Comment Text:
i0-001
COIMMENT
CL-06656
From:
Sent:
To:
Subject:
Jerald Sudhakar
Tuesday, March 9, 2010 6:50 AM
secretary
Regulation of Retail Forex
Kind Attention:
The Honorable Secretary
CFTC
Dear Sirs,
On January 13, 2010, you have released a public proposal,
Regulation of Off-Exchange Retail Foreign
Exchange Transactions and Intermediaries,
which imposes new requirements on the U.S. Forex
industry.
To speak honestly it will only affect the middle class like us who are striving hard for success in
life.Since Forex has turned out to be a global financial business it should be viable by all.It should not
always be in favor of the Big Boys-Biggest Financial Institutions.Whats the use of money being
circulated within a particular group.By doing this the rich always gets richer and poor always goes
poorer.
Just when technology has just started emerging in developing countries ,enforcing these kind of
restrictions and limitations will only narrow the business and also will take to the doom.
Also this is not the right time to bring these rules< Leverage 1:10 > when recession has started loosing
its strength.
Also no individual is loosing or gaining money by simply trading blindly.Even one has got adequate
knowledge and also knows the risk being involved in trading.So please leave the decision to the
individual to decide Leverage, margin or others aspects associated with trading.Also by doing this you
are only guaranteeing the SURVIVAL OF THE BUSINESS.
Also by imposing this leverage, only the following demerits can happen.
1.The business will narrow
2.Individuals will be forbidden
3.Spreads will increase
4.Margins will increase
5.Rollover swaps will increase
6.Business will be only within the pockets of rich man
7.People will ignore CFTC affiliated companies, brokers, firms
8.Even companies will ignore CFTC and get affiliated with other regulatory boards
9.Finally CFTC may suck
10.Developing countries will be hard hit
So please leave the decision to the individual to decide as we have our own brains to decide what is
right and what is wrong.Let this "Business Live"
Yours sincerely,
Jerald Sudhakar
X
INDIA +914424352797,+919043370090i0-001
COIMMENT
CL-06656
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