Excellent piece of appellant case law research, nice work wwwin. p.s. the question now is how has the legislation been framed to give jurisdiction to the CFTC... something for the legal eagles to wrap their brains around.

Could 10:1 be the new leverage in US Forex?

Just to further expand the cerebral matter (and be very entertained at the same time, funny it is), more from Pirrong (on Gensler's grand plans for the OTC market) url

Could 10:1 be the new leverage in US Forex?

Think you guys may find that one cannot bring an action where there is presently no cause. i.e. the CFTC proposals are just that, proposals. If or when they become binding in law (and that is still an if), that would be the appropriate time to seek ...

Could 10:1 be the new leverage in US Forex?

My 2c .... I think traders should begin spreading their eggs around.... it costs nothing to open off-shore accounts... look for brokers who are willing to support standard, mini, and micro accounts off-shore. Ask off-shore dealers if they will ...

Could 10:1 be the new leverage in US Forex?

Pirrong has it right... (it appears to be exactly what it seemed from the start) "Perhaps this is best seen as a backdoor approach to push trading from the OTC market onto exchanges. Not a good idea." He's also got this right.... "On the other hand, ...

Could 10:1 be the new leverage in US Forex?

It wouldn't be an education campaign by a regulator.... that's why the CAB needs to be independent of both government and industry. Traders tend not to trust either government or industry (unfortunate but that's the reality), but traders do tend to ...

Could 10:1 be the new leverage in US Forex?

On the contrary, someone does care and they have already put their money on the line to progress the financial literacy agenda in recognition of the important role this plays for consumers/traders/investors url Now all they need to do is marry the ...

Could 10:1 be the new leverage in US Forex?

There is more than one way (regulation) to address consumer protections. A not insignificant issue for Retail Forex is the lack of quality independent free advice (that's why the industry needs a Consumer Advice Bureau). One has to ask how many ...

Could 10:1 be the new leverage in US Forex?

Interesting — From Craig Pirrong, Professor of Finance, and Energy Markets Director for the Global Energy Management Institute at the Bauer College of Business of the University of Houston, speaking on the parrallel CFTC proposal for ...

Could 10:1 be the new leverage in US Forex?

All rather bizarre isn't it? Off-shore, you can hedge, have no FIFO, run accounts with leverage ranging between 200:1 and 400:1, have the pleasure of the FSA having their act together (what is not to love about having these freedoms?) but the US ...

Could 10:1 be the new leverage in US Forex?

Suggest — The FXDC members need to do something sooner rather than later to shore up their market share / provide traders with certainty regarding immediate easy access to off-shore facilities (judging by the number of EU regulated banks / UK ...

Could 10:1 be the new leverage in US Forex?

Is that the NFA boys and their equities buddies I can hear sniggering away in the background? For those who do trade other markets, there are certainly much more attractive pickings than retail Fx shackled n chained at 10:1. Every trader has to ...

Could 10:1 be the new leverage in US Forex?

Facts vs Fallacy — It would be useful to have some quantitative numbers on the distribution of retail traders' use of leverage. How many traders use 100:1, how many use 50:1, how many use 25:1, how many use 10:1 or less. What precisely is the ...

Could 10:1 be the new leverage in US Forex?

That of course, is the worry for traders and brokers alike. The CFTC has an "International" department, one of such functions is to "assists foreign regulators in inter-jurisdictional issues involving the U.S." url

Could 10:1 be the new leverage in US Forex?

Whenever looking at any new proposal, one needs to ask the question... who stands to gain the most from this? While some fx business would go off-shore, would a good portion of fx traders simply take the path of least resistance.... revert to the US ...

Could 10:1 be the new leverage in US Forex?

Good to see the FXDC have a website up and running. Perhaps they could also include a link to the comments received section so that traders can find that easily? url

Could 10:1 be the new leverage in US Forex?

You make a number of salient points. Membership of the management model for a CAB (Consumer Advice Bureau) would ideally consist of a 3-4 traders who have varying trading styles (to represent the variety of opinion among traders), plus 1 person from ...

Could 10:1 be the new leverage in US Forex?

I suspect that CFTC simply has a very huge headache on their hands since this market is off-exchange - it's a headache they would like to go away. Doubtless there are other agendas running in the background from other industry players, however we ...

10 to 1 You're done...

The role of education in remedying some of the CFTC's concerns is critical. From the CFTC perspective, they have to deal with the collosal mess and damage left by disreputable operators and a regulatory environment which at present, leaves them ...

10 to 1 You're done...

Thank you luckylady. Regulators are people too. So are politicians. At present, both categories are somewhat mindful of the need to pay heed to "we the people".

10 to 1 You're done...