Comment Text:
i0-001
COMMENT
CL-07233
From:
Sent:
To:
Cc:
Subject:
[email protected]
Saturday, March 13, 2010
9:18 AM
secretary
[email protected]
Regulation of Retail Forex
RIN 3038-AC61
Dear Sirs,
I strongly oppose your proposed reform of leverage on the forex retail market.
A forced decrese of the leverage would make trading too expensive for small
retail investors. I strongly doubt it will achieve any effect in reducing
systemic risk: by reducing the amount of traders in the forex market, liquidity
will fall drammatically thus rendering the market less liquid and more
unstable.
Do not forget the Foreign Exchange Market behaved well during the crisis, with
no major problems coming from this market. If there are markets which need
regulation, these may be the CDS market or the OTC derivative market. For sure
NOT the liquid and efficient forex market.
Hoping you will not pass such regulation,
My very best regards
Giovanni Gabriele Vecchio
