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Comment for Proposed Rule 75 FR 3281

  • From: David Nesmith
    Organization(s):

    Comment No: 4480
    Date: 1/29/2010

    Comment Text:

    i0-001
    COMMENT
    CL-04480
    From:
    Sent:
    To:
    Subject:
    David Nesmith
    Friday, January 29, 2010 6:26 PM
    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 Nesmith
    RIN 3038-AC61