Comment Text:
i0-001
COMMENT
CL-00176
From:
Sent:
To:
Subject:
David Connell
Saturday, January 16, 2010 12:14 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 which is surely the opposite of what any
responsible organisation should be trying to achieve. The reduction to
100:1
was bad enough, any further reduction is completely 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
David Connell
