Comment Text:
i0-001
COMMENT
CL-05354
From:
Sent:
To:
Subject:
Carl Parks
Saturday, February 13, 2010 5:46 AM
secreta ry < secreta ry@ C FTC. g ov >
'Regulation of Retail Forex' : ID number RIN 3038-AC61
To whom it may concern at the U.S. Commodity Futures Trading Commission,
I am sending this message to comment on the proposed margin changes in the U.S. retail foreign
exchange industry (ID number RIN 3038-AC61).
If this margin change is approved it will have a huge negative affect on the U.S. retail foreign
exchange industry. The margin change would destroy the market fora majority of the investors in
the United States. This is nota positive or beneficial decision for the foreign exchange market in
the United States or the American investor. By increasing the minimum margin requirement to 10
percent (10-to-1 leverage), you will take away one of the major benefits (leverage capability) of
trading in this market for most American investors. The current margin rate allows the American
investor; that is not a large business or brokerage company, to participate in a market that would
normally be restricted to large industry ! business or the professional brokerage companies.
This margin change will limit the majority of the market to large business and brokerage
companies; this is definitely not an open market concept. A market decision such as the one you
are considering with defeat the leverage benefit of the Forex market. The current margin
rate allows enough leverage for the American investor to partake in a extremely financially
beneficial market. A market that would normally be limited to large companies. A market that is
the largest trading market in the world.
But if you are single-handily trying to restrict Forex trading to only large industry ! business and
you want to exclude the majority of the American traders, then this negative decision (which is a
market changing decision) will definitely exclude most of the American trading population. A
margin decision such as the one proposed will hinder or stop the open market concept that the
CFTC was designed to foster.
As a current options and Forex trader, I ask that you reject the proposed margin change.
Thank you for your time and your consideration of my concerns on this market (Forex) changing
issue.
Very Respectfully,
Carl L. Parks
"Life's journey....gotta love it !'"
