Comment for Proposed Rule 75 FR 3281
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From:
Michael Perazzo
Organization(s):
Comment No:
1091
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-01091
From:
Sent:
To:
Subject:
Michael Perazzo
Wednesday, January 20, 2010 6:24 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. Reducing it to 100:1 was bad enough, any further reduction is unacceptable.
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
Michael Perazzo
