Comment Text:
i0-001
COMMENT
CL-04674
From:
Sent:
To:
Subject:
Brian Mallick
Sunday, January 31, 2010 4:31 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Mr. Secretary - I am sending you this email to respectfully request that the increase in the margin amounts for retail forex
trading not be implemented. This proposed increase would essentially force many small forex traders to close their accounts
and stop trading. If this is the CFTC's attempt to limit market volatility I think that it would be a futile method; large trading
houses would still have the ability to trade and they would still respond to market conditions and news as they always have. If
most small traders stop trading because of this increase many brokerages would have to downsize their operations which
would mean the loss of many jobs; something that would not be good in this recession. Please keep the forex margins the
same as they are today.
If the CFTC does implement the margin increase I shall ask my congressman to submit a bill to overturn that decision.
Thank you for reading my opinion.
Brian Mallick
9718 Sotherloch Lake Dr.
Spring Texas 77379
January 31, 2010
