Comment Text:
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From:
Sent:
To:
Subject:
josua carrera < bluesession@ hotmail.com >
Monday, March 8, 2010 7:32 PM
secretary < secretary@ C FTC. g ov >
RE: CFTC Propsal - 3 weeks left for comments
From: AIpa ri_U S_LLC@ ma il.vresp.com
To: bluesession @hotmail.com
Subject: CFTC Propsal - 3 weeks left for comments
Date: Mon, 8 Mar 2010 20:33:50 +0000
Deberia ser libre y el menor intervencionismo posible para que la ecomia sea mas
din~mica.Adem~s estas normas no protegen al inversor, cualquiera que invierta en forex sabe los
riesgos y est~ sobre aviso de ello.
Dear Traders,
We are sending you this follow up email to remind you that you have a
voice and there are only three weeks left! The CFTC is accepting
comments on it's proposal until March 22, 2010. We strongly encourage
you to submit your comments to them during this time period. Below you
can find the response of Alpari (US) in regards to the new CFTC proposed
regulations.
Alpari (US) Speaks out about the CFTC
Proposal
New CFTC Proposed Rule
On January 13, 2010, The Commodity Futures Trading
Commission (CFTC) released a public proposal,
Regulation of
Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries,
which imposes new requirements on the
U.S. Forex industry. The proposal significantly changes thei0-001
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leverage permitted on certain accounts and, if passed, would
have a drastic effect on retail investors, In the CFTC
proposed regulation, leverage in retail forex customer
accounts would be subject to a 10-to-1 limitation,
Currently, the CFTC enforces 100:1 leverage (a 1% margin
requirement) to open and maintain a position on a forex
transaction, With the 10:1 leverage proposed, retail traders
would be subject to a 10% margin requirement, Retail
traders would have to invest significantly more to place
trades of the same size, ultimately resulting in a decreased
return or loss on invested margin,* The risk-reward ratio
that is so appealing to the average investor today under
100:1 leverage would no longer be available if the proposal
is passed,
The effect of this change can be summarized through the
following example:
Currency
Price
Transaction
Current Margin
Proposed Margin
Pair
Quote
Size
Requirement at Requirement at
100:1 Leverage 10:1 Leverage
EUR/USD
1,4285
1 standard lot $1,428,50
$14,285,00
= 100,000
GBP/USD
1.6370
1 standard lot $1,637.00
$16,370.00
= 100,000
Where we stand
Alpari (US) has always been a strong supporter of ethical
and fair business practices and the protections offered to
traders through industry regulation. However, AIpari (US)
does not support
this
CFTC proposal.
Alpari (US) believes that this proposal discourages
beginners from developing and strengthening their tradingi0-001
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style. It effectively prevents investors from evaluating their
own appetite for risk and making personal investing
decisions.
We place a strong emphasis on educating traders to make
informed and responsible decisions. We believe that, with
proper education, it is not necessary for the U.S. Forex
industry to be subject to these regulations. Only recently
have the doors opened for retail investors to trade in this
market; these doors are effectively closed through the
proposed rules, once again making the FX market accessible
only to financial institutions.
You have a voice
Our goal is to guide you in understanding the intentions and
ramifications of this proposal and remind you that, as a
retail investor, you have a say in how your freedoms are
controlled. We believe that this is a decision to be made by
the traders, not the regulators. You are the largest group
who can make these ramifications heard.
We encourage you to send your comments to the CFTC
during the 60 day period, ending on March 22, 2010. If you
have an opinion on whether the CFTC should restrict
leverage across the board to 10 to 1, we want you to voice
it. Send your comments to
[email protected]
and include
"Regulation of Retail Forex" as the subject line of the
message. Additionally, you can file comments
online, by fax
at 202-418-5521 or by mail to:
Secretary of the Commission
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street NW
Washington, DC 20581i0-001
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Team of Alpari (US)
14 Wall Street Suite 5H
New York, NY 10005
Tel: 646.825.5760
Fax: 646.825.5761
www.alpari-us.com
NFA ID: 0379678
*The potential of profit is equal to the risk of loss on all
leveraged transactions.
Risk Warning: Trading foreign exchange, commodity futures,
options, precious metals and other over-the-counter
products carries a high level of risk and may not be suitable
for all investors. The high degree of leverage associated
with such trading can result in substantial losses, as well as
gains. The past performance of any trading strategy or
methodology is not indicative of future results, which can
vary due to market volatility; it should not be interpreted as
a forecast of future performance. You should carefully
consider whether such trading is suitable for you in light of
your financial condition, level of experience and appetite for
risk, and seek advice from an independent financial advisor,
if you have any doubts. AIpari (US), LLC is registered with
the CFTC as a Futures Commission Merchant and is a
member of the NFA
- Member ID: 0379678.
Confidentiality: This e-mail and any files transmitted with it
are confidential and intended solely for use of the recipient
(s). Any review, retransmission, dissemination, or other use
of, or taking any action in reliance upon this information by
person or entities other than intended recipient(s) is
prohibited. If you have received this e-mail in error, please
notify the sender immediately, and destroy the material
whether stored on a computer or otherwise.i0-001
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Phone:
1-646-825-5760
Email: [email protected]
Web: www.alpari-us.com
14 Wall St., Suite 5H, New York, NY 10005
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