Comment Text:
i0-001
COMMENT
CL-07172
From:
Sent:
To:
Subject:
Carlos Ribeiro
Saturday, March 13, 2010 4:57 AM
secretary
[email protected]
'Regulation of Retail Forex'
RIN 3038-AC61
Sir,
I do believe that the proposed changes in the regulatory framework for retail forex trading are unfair and
would make the market more volatile and illiquid than what it is today.
Retail traders provide liquidity and ensuring that a 10 % margin is required on an instrument or currency
cross that at the maximum would change in value by 1% does not seen very apt. The basic interbank
market is controlled by a few large banks that actually more the market and retail trade merely follows
them. Hence enhanced supervision and posistion limits might be the order of the day not enhanced
margins on retail trade who really cannot move the markets anyway.
Thank you,
Carlos Ribeiro
