Comment Text:
i0-001
COMMENT
CL-00014
From:
Sent:
To:
Subject:
john m. bland
Thursday, January 14, 2010 1:51 PM
secretary
10-1 proposal for reatail forex trading
This in response to this unfair proposal. I traded in the interbank and currency futures markets for several decades and moved over to
retail forex trading on my own about fifteen years ago. The retail brokerage business is incredibly competitive for the retail trader and
the CFTC has done a lot in recent years to correct many of the problems in this industry. 400 to 1 leverage rightfully was shut down
but 100-1 leverage is perfectly fine for day-traders, although parity with the futures markets would be fine This decision is unfair and
anti-competitive and will simply send even more business to London and to unregulated markets offshore. It will not drive people to the
futures markets, which must clearly be its intent. Think about it, there are reasons why professional traders abandoned Futures in
droves over the past decade. This won't get them back.
Sincerely,
John M. Bland
John M. Bland
609 884-6010
