Comment Text:
i0-001
COMMENT
CL-05144
From:
Sent:
To:
Subject:
Bill Scharman
Monday, February 8, 2010 10:35 AM
secretary
Proposed CFTC Forex Rule limiting leverage to 10:1
I am NOT in favor of limiting leverage BELOW 100:1. The currency market fluctuations are very small compared
to many other markets and the leverage allows those of us not affiliated with large funds to trade the market. I
was in favor of the reduction from 400:1 to 100:1 to bring some stability to the market and this rule just went
into effect late last year and has not even begun to be evaluated. It is surprising that the CFTC would propose
this new rule so quickly without allowing more time to let the 100:1 leverage rule settle in. The Domestic Forex
industry is growing and employing a great number of people and if this rule takes effect, I believe it will KILL the
domestic market for forex and cost tens of thousands of domestic jobs in the U.S. just at a time when the
country needs job growth. 100:1 was the right move and continues to be the right level of leverage!
PLEASE VOTE
NO
ON THE PROPOSED 10:1 rule.
Thanks,
Bill Scharman
