Comment Text:
i0-001
COMMENT
CL-03842
From:
Sent:
To:
Subject:
pickheaven
Monday, January 25, 2010 4:50 PM
secretary
Rule Change Proposal
Regarding:
On January 13, 2010, The Commodity Futures Trading Commission (CFTC) released a public proposal,
Regulation of Q[f-Exchange Retail Foreign Exchange Transactions and Intermediaries,
which imposes
new requirements on the U.S. Forex industry. The proposal significantly changes the leverage permitted
on certain accounts and, if passed, would have a drastic effect on retail investors. In the CFTC proposed
regulation, leverage in retail forex customer accounts would be subject to a 10-to-1 limitation.
Please leave things as they are. I am totally opposed to the proposed rule change. Specifically, changing the
margin requirements to 10:1 versus the current 100:1.
Aren't the recent changes you made enough? I like trading Foreign Currency and this would virtually shut me out
of the market. Is that the reason for the proposed rule change?
Thank you in advance.
Archie Newton
16050 W. Winslow Dr.
Goodyear, AZ
85338
email: [email protected]
