Comment Text:
i0-001
COMMENT
CL-07962
From:
Sent:
To:
Subject:
Chris C Echetabu
Tuesday, March 16, 2010 3:30 PM
secretary < secretary@ C FTC. g ov >
'Regulation of Retail Forex
Dear Sir or Madam:
I write to express my utmost concern about the new leverage requirements you're proposing for
the US end of the forex market.
Pegging leverage requirements at 10:1, as proposed in RIN 3038-AC61, will constitute an undue
manipulation of market forces.Furthermore, this will immediately take away the volatility that
makes the market competitive and lucrative for the average professional trader.Additionally, if this
regulation does not apply to Forex traders outside of US borders, ultimately, it will incapacitate
local traders by taking away their competitive edge as well as impact the US Dollar negatively; in
the long run. More so, this runs contrary to our national values.It is only socialist and
communist nations that have been known to go out of their way to moderate market forces, often,
to their own disadvantage. Finally, please consider that the Forex market provides a source of
income for many who would otherwise be on the unemployment line.Any action taken to moderate
the the free movement of market force might have adverse effects on their source of livelihood.
Yours sincerely,
Chris Echetabu
Lanham,Maryland
