Comment Text:
i0-001
COIMMENT
CL-04066
From:
Sent:
To:
Cc:
Subject:
David Smart
Tuesday, January 26, 2010 12:05 PM
secreta ry < secreta ry@ C FTC. g ov >
Stawick, David ; Smith, Thomas J.
; Bauer, Jennifer ;
Penner, William ; Cummings, Christopher
W. ; Sanchez, Peter
< [email protected]>
STRONGLY OBJECT TO 10-1 LEVERAGE LIMIT IN REGULATION
OF RETAIL FOREX PROPOSAL RIN 3038-AC61
Attn : David Stawick, Secretary, CFTC and ALL CFTC policymakers:
I am a US-based Retail FX trader. I have been trading for the past 5 years and I am STRONGLY
OPPOSED to the 10-1 leverage limit as proposed in RIN 3038-AC61 relating to the Regulation of
Retail Forex.
As a small business owner I appreciate the fact that the capital requirements for trading Forex are
low, with the risk/reward potential high. However, the rule change you propose will seriously
restrict my ability to use my trading capital in the way that I choose. FX volatilities are generally
substantially lower than in the Equities or Futures market. Therefore, significantly more leverage is
required simply to capture equivalent trading opportunities.
PLEASE IMMEDIATELY STRIKE YOUR PROPOSED 10-1 LEVERAGE LIMITATIONS AND LEAVE THE
CURRENT 100:1 IN PLACE.
Thank You,
David Smart
Hotmail: Trusted email with powerful SPAM protection.
Sign up now.
