Comment Text:
i0-001
COMMENT
CL-00151
From:
Sent:
To:
Subject:
Doug Hayward
Saturday, January 16, 2010 3:56 AM
secretary
New Regulations for the Forex Retail Market
While I applaud the efforts of the CFTC to close and expose unscrupulous dealers ....
the current
regulations of a 10:1 margin are going to far.
I have been successfully trading the FOREX market with a US company for 2 years. The first move of
regulations eliminating hedging...moving marign to 100:1 and implementing FIFO certainly required
changes in my trading strategy.
But this is now over the line. This will KILL the retail FOREX market that exists in the United States.
Jobs will be lost and dealers will close up and cut back. There is NO sound reason to implement this
and I beg you to reconsider. Millions of dollars will flow overseas and the currency market in the states
will be dominated once again by banks...and you can tell by just reading the news hwo much they really
care about our economy or us as citizens.
Please do not implement the new restrictions regarding margin of 10:1. It will be go down as the
biggest mistake in the history of the CFTC.
Thank you
Doug Hayward
Battle Creek, MI
From uploaded file 151_----:
1/4/2010 3:55:29 PM... 23 change(s) to BPAC list.
1/4/2010 4:02:59 PM, True... 23 change(s) to BPAC list.
