Comment Text:
i0-001
COMMENT
CL-04675
From:
Sent:
To:
Subject:
[email protected]
Sunday, January 31, 2010 4:42 PM
secretary
Regulation of Retail Forex
To Whom It May Concern,
The proposed changes for forex leverage from 100:1 to 10:1 for all NFA and CFTC regulated forex firms, would
clearly disadvantage firms in the United States which in turn will disadvantage me. Leverage is something I do
understand and would not over leverage any forex account. For us small investor the impact of these new
requirements would be significant. Under existing rules and based on an exchange rates, for example
a $10,000 account could buy or short just over 700,000 EURUSD. With the new proposed rule, the same
account would only be able to buy or short 70,000 EURUSD. This means more money out of my pocket which I
and many other investors do not have. Again please leave the leverage the same 100:1. My name is Norman
E. Meeks, phone number 408-314-7692, email address
[email protected].
Thank You
Norman
