Comment for Proposed Rule 75 FR 3281
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From:
Tim Williams
Organization(s):
Comment No:
1505
Date:
1/21/2010
Comment Text:
i0-001
COMMENT
CL-01505
From:
Sent:
To:
Subject:
Tim Williams
Thursday, January 21, 2010 2:51 AM
secretary
Regulation of Retail Forex
Sir
ID#: RIN 3038-AC61
I am an active Forex trader. I understand that the CFTC is seeking comments about its proposed new regulations
to reduce leverage to a statutory 10:1.
I trade in Europe and the US, in both places with leverage at 100:1. If the US CFTC unilaterally decides to reduce
leverage that brokers can offer to customers to 10:1, then I will be left with no choice but to cease trading with US
brokers and trade all my funds in Europe.
Reducing leverage unilaterally by a factor of 10, to 10:1 from 100:1 will put US brokers at a serious competitive
disadvantage to their European cousins. While this in itself is of no real concern to me, a humble retail trader, it
will cause some mild inconvenience while I switch funds to Europe.
I really can't see why it is being considered.
Yours faithfully
Tim Williams
Tim Williams
+33 5 45 98 32 65 (o) or
+33 9 65 10 57 69 (o) or
+33 5 45 78 83 51 (h)
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