Font Size: AAA // Print // Bookmark

Comment for Proposed Rule 75 FR 3281

  • From: David J Nesmith
    Organization(s):

    Comment No: 4421
    Date: 1/29/2010

    Comment Text:

    i0-001
    COMMENT
    CL-04421
    From:
    Sent:
    To:
    Subject:
    David Nesmith
    Friday,
    January 29, 2010 2:28 AM
    secretary

    Regulation of Retail Forex
    To whom it may concern,
    I am a retail trader and I am strongly opposed to the 10:1 leverage
    proposal by the CFTC. This regulation/requirement will drive many of
    the "smaller guys" out of the markets entirely or to offshore (ie
    unregulated) brokers.
    The liquidity provided by retail traders increase the efficiency of
    the markets. Removing them, or unfairly pricing them out of the
    markets will result in increased price volatility overall and decrease
    the efficiency of the markets which is bad for everyone.
    Please reconsider this proposal.
    Thank you
    David J. Nesmith