The deadline for comments on the proposals of the US Commodity Futures Trading Commission about retail foreign exchange passed last Monday. However a date for a decision on the proposals has not yet been announced.
The proposal to cap leverage at 10:1 is only one of the suggested new regulations that also include stricter rules for the capitalization of the platforms, or Forex Dealer Members.
Predictably, there was a flurry of press releases from interested parties. Oanda’s positioning statement “The CFTC has received almost 10,000 submissions to date, almost uniformly opposed to the 10:1 proposal.
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