Comment Text:
i0-001
COMMENT
CL-00069
From:
Sent:
To:
Subject:
mpennant@yahoo, com
Friday,
January 15, 2010 10:44 AM
secretary
Regulation of Retail Forex
To whom it may concern,
I am a retail trader and I am strongly opposed to the 10:1 leverage proposal by the CFTC. This regulation/requirement will
drive many of the "smaller guys" out of the markets entirely or to offshore (ie unregulated) brokers.
In an economy that is hard to find good paying jobs, investing is a way for the "smaller guys" to bring in some income to
provide for our families.
The liquidity provided by retail traders increase the efficiency of the markets. Removing them, or unfairly pricing them out of
the markets will result in increased price volatility overall and decrease the efficiency of the markets which is bad for
everyone.
Please reconsider this proposal.
Thank you
Michael Pennant
