Comment Text:
i0-001
COIMMENT
CL-06666
From:
Sent:
To:
Subject:
ron@druid .net
Tuesday, March 9, 2010 10:24 AM
secretary
Public Comment Form
Below is the result of your feedback form. It was submitted by
([email protected]) on Tuesday, March 09, 2010 at 10:23:57
commenter_subject: Regulation of Off-Exchange Retail Foreign Exchange
Tra
commenter_frdate: 01/20/2010
commenter_frpage: 3282
commenter_comments: The proposal to increase margin requirements to
10-to-1 will tend to drive traders offshore, where
they can easily enjoy leverage of 200-to-1. Some of
these venues are well regulated, some may not be.
The effect of pushing this economic activity
offshore on the US economy may not be huge, but it
will negatively affect retail FX brokers in the US,
potentially costing the US jobs and tax revenue. Is
that desirable at any time, let alone in these
difficult times? As a small FX trader, I believe
the existing 100-to-1 rule for standard currency
pairs is perfectly adequate.
commenter_name: Ron Bailey
commenter_withhold_address_on: ON
commenter_addressl: PO Box 4133
commenter_city: Blaine
commenter_state: WA
commenter_zip: 98231
commenter_phone: 360-922-0109
