Hi everybody

As you already know we at FXstreet.com are trying to bring some light on how the US FX industry will adjust themselves to NFA’s new regulatory requirements.

In my Open letter to FXstreet’s clients affected by NFA capital requirement changes I contacted those brokerage firms that are FXstreet.com’s current clients and that could be affected by the NFA’s proposal.

This time I would like to know the opinion of our clients not affected by the raise of capital requirement to $5 million but affected by the change in accounting methods and internal controls, as well as concerned by the shaking effect that capital raise could have in the industry in terms of bankruptcies and mergers & acquisitions triggering.

That’s why I´m putting together a battery of questions I would like to submit to CEO’s of main FX brokerage firms as FXCM, GFT, FXSolutions, CMS…, and also to non-american top firms as Saxo Bank, ACM,…

Questions:

- What is your opinion on the recent NFA regulatory changes? How do you view the implementation of new measures for FDMs?

- The new proposal also calls for the use of proper and uniform accounting methods and tightens internal controls. Do you find this a measure that could affect your company’s business in some way?

- Do you consider these measure a breathe of fresh air that could result in more investors joining the FX Market?

- Would your company be on the bid side if some firms were not meeting new requirements? What is your company’s policy on smaller firms’ acquisitions?

- For many, the very business model of Forex brokerage firms that needs to be decided is whether or not such brokerage houses can take opposite trading positions to those held by their customers, i.e., trading ‘against them’, which contradicts traders’ well-being. What is your company’s position on this? Is your firm currently taking the other side of customers’ position/trade?

These questions are the ones that occur to me but, again, I´m coming for your help… Any question you may wish to add that I´m missing?

As always, thanks for your great help!

Francesc