Comment Text:
i0-001
COMMENT
CL-05514
From:
Sent:
To:
Subject:
Raj Dasgupta
Monday, February 22, 2010 6:04 PM
secretary
Regulation of Retail Forex
To:
Secretary of the Commission
Commodity Futures Trading Commission
I am writing with regard to
the new
Regulation of Of['-Exchange Retail Foreiqn Exchanqe Transactions and Intermediaries,
proposal that was released by your office.
I am a Forex professional and in this industry leverage plays a much more significant role than in Equities, Fixed
Income and other asset classes. I believe that reducing the leverage to 1:10 will greatly disadvantage US in terms
of competitiveness with foreign institutions. The US plays a very critical role in this market where more than 3 Tr
USD is traded per day. Allowing this huge market to move overseas will have a significant impact to the US FX
Industry.
If the main reason for increasing leverage is to discourage over-zealous investments by newcomers in search for
"easy money", perhaps, you should consider imposing stricter qualifying rules for trading on leverage.
I, like many of my peers in the FX World are not in favour of such changes in the FX Market and request you to
reconsider the suggestions taking into account the implications apparent in such a change,
Thanks and regards,
-
Natara~.
