Comment Text:
i0-001
COMMENT
CL-01617
From:
Sent:
To:
Subject:
Scorpio Scorpio
Thursday, January 21, 2010
8:31 AM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
This message has been modified by removing a potentially harmful program. Only the appearance,
not the content, should have been affected. If you are having a problem with this modified version,
please contact your local OITS Customer Service Center for assistance, identification number RIN
3038-AC61
I am opposed to the proposed change that would limit Forex transactions to 10:1 leverage.
It is largely anticipated that in the event leverage in the US is reduced from 100:1 to 10:1 most US
accounts will migrate to the United Kingdom. Individual traders have voiced publically that they are
unwilling to post higher levels of margin to trade within the United States. Specifically many have
shared that as long as well regulated, financially similar, trading venues exist internationally;
staying in the US will not make sense with a 10% security deposit. Therefore, if the objective of
the CFTC is to protect US investors with their new proposal and this occurs, they may actually be
making matters worse. If US clients are encouraged to move their accounts abroad on to pursue
higher leverage, the CFTC will then no longer have jurisdiction over the companies handling those
accounts and the point will become moot.
Hotmail: Free, trusted and rich email service.
Get it now.
