Forex dealers are not taking the latest rogue regulatory action – CFTC‘s proposal to limit leverage in OTC forex - lying down. Last week, the Forex Dealers Coalition (FXDC), a group of the nine largest firms in the industry, sent a letter to the CFTC saying its proposal to limit leverage to 10-1 would “be a crippling blow to the industry and drive it offshore.” The CFTC kicked off its 60-day comment period last week, after which it will make its decision on the proposal. You can get more information and send a letter to the CFTC through FXDC’s Web site, www.fxdc.org.  How will the proposal affect your trading? Leave your comments below.

Tags: CFTC, forex, OTC

This entry was posted on Wednesday, January 27th, 2010 at 2:06 pm and is filed under Regulatory/actions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.