Comment for Proposed Rule 75 FR 3281
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From:
William K Leavitt
Organization(s):
Comment No:
2522
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02522
From:
Sent:
To:
Subject:
Bill Leavitt
Friday, January 22, 2010 8:48 AM
secretary
Public Comment on Forex Leverage ratios
Dear Sir/Madam,
I am a retail forex trader who relies on my trading for my income.
Your proposed legislation would materially impact me in a very
negative fashion. Leverage in retail accounts had no bearing on our
previous financial difficulties. Liquidity is not affected nor are there
"numerous stories in the press" of excess in this area. As the
economy struggles to create jobs and the financial markets need more
liquidity this proposed move would be deleterious to free functioning
markets and capitalist systems in general. PLEASE desist from this
course of action. It would materially impact the livlihoods of
numerous retail traders.
-William K. Leavitt
As many of you are aware, the U.S.
(CFTC) announced on danuary 13, 2010 that it is seeMng public comment on
proposed regulations concerning retail Forex trading.
As part of the proposed regulations, it is stated." "leverage in retail forex
customer accounts would be subject to a 10-to-1 limitation, "which means 10:1
leverage would be the maximum amount allowed for all Forex traders in the U.S.
