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Comment for Proposed Rule 75 FR 3281

  • From: Terrance Beals
    Organization(s):

    Comment No: 4519
    Date: 1/29/2010

    Comment Text:

    i0-001
    COMMENT
    CL-04519
    From:
    Sent:
    To:
    Cc:
    Subject:
    Terrance Beals
    Friday, January 29, 2010 9:45 PM
    secretary
    Stawick, David ; Smith, Thomas J.
    ; Bauer, Jennifer ; Penner, William
    ; Cummings, Christopher W.
    ; Sanchez, Peter
    Regulation of Retail Forex RIN 3038-AC61
    Dear Mr. Stawick:
    I am writing in regards to RIN 3038-AC61. As I full-time forex trader, I understand and appreciate the
    privilege and value of leverage. The responsible use of leverage is an essential part of my trading
    business.
    I can understand why companies were previously required to adjust leverage from 400:1 down to 100:1.
    It is my opinion that the previous adjustments were more than adequate, and many forex FCMs share
    my views.
    The change from 100:1 down to 10:1 could adversely affect the thriving retail forex industry, in addition
    to the traders who participate in the markets, by trading and adding liquidity to the forex market.
    Please keep forex leverage at 100:1.
    Thank you for your time.
    Sincerely
    Terrance Beals