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Comment for Proposed Rule 75 FR 3281

  • From: J D Perry
    Organization(s):
    Troika Fund;JP Global Capital Management

    Comment No: 6367
    Date: 3/6/2010

    Comment Text:

    i0-001
    COMMENT
    CL-06367
    From:
    Sent:
    To:
    Subject:
    J.D. Perry
    Saturday, March 6, 2010 8:30 AM
    secretary
    10:1 rule
    Forex trading leverage did not cause the markets to collapse. This is a regulatory change for the sake of change only. If the
    rule is instituted, I will trade my fund outside the U.S. and have already opened accounts to do so. Leverage will not stop only
    where (geographic location) it is instituted.
    Additionally, lowering the leverage will drive control of the markets into institutional hands and give foreign institutions more
    opportunity to control the markets. The U.S. must realize we are losing economic preeminence and much of that has to do
    with currencies. We need to make the U.S. the most advantageous clearinghouse country and this absolutely goes in the
    wrong direction.
    J.D. Perry
    Manager, The Troika I Fund
    President, JP Global Capital Management
    Baton Rouge, LA