Comment Text:
i0-001
COMMENT
CL-05440
From:
Sent:
To:
Subject:
Kene Oliobi
Thursday, February 18, 2010 7:30 AM
secretary
Regulation of Retail Forex
Dear Mr. Secretary,
I would like to request that you do NOT implement any changes to the maximum
leverage ratio for currency trades, which currently stands at 100:1.
Any changes to this ratio will simply move traders offshore. The trades will still occur
regardless of what you do. Reducing the allowed leverage will just push traders outside
US jurisdiction. With the US' 100:1 ratio, it is still low by international standards (E.g., UK
allows for as much as 500:1). Further reducing this ratio would be rather ridiculous, in
my opinion.
Making this rule change will do nothing except reduce the revenue of the US foreign
exchange industry and the associated tax revenues. A loss to the US public on all counts.
Kindly make sure to consider this opinion before making any decision.
Regards,
Kene Oliobi
RIN 3038-AC61
