• Reauthorizes the Commodity Futures Trading Commission, the agency responsible for federal regulation of commodity futures trading, through 2013
• Strengthens Commodity Futures Trading Commission (CFTC) authority over retail foreign currency (forex) transactions
◎ Clarifies CFTC authority on transactions in foreign currency to reduce fraud
◎ Retail foreign exchange dealers must register with the CFTC and will be subject to CFTC rules and anti-fraud authority along with Futures Commission Merchants that engage in retail forex transactions
◎ Strengthens qualifications and minimum capital requirements for Futures Commission Merchants and retail foreign exchange dealers
• Extends the CFTC’s principles-based oversight to exempt commercial markets (ECM) that trade significant price contracts
◎ Implements the CFTC’s recommendations on improving oversight of Exempt Commercial Markets (ECMs)
◎ Sets forth criteria for the CFTC to determine whether a contract traded on an ECM qualifies as a significant price discovery contract
◎ Requires CFTC to monitor ECM trading of oil, natural gas, and other commodities for contracts that perform a significant price discovery function.
◎ Requires position and accountability limits for significant price discovery contracts
◎ Requires large traders to report their positions in significant price discovery contracts
◎ Applies other core CFTC principles to ECMs with regard to significant price discovery contracts including requirements to:
→ publish trading information on a daily basis
→ enforce conflict of interest principles in its administration
→ monitor trading activity
→ monitor and enforce compliance with ECM rules
→ not list contracts susceptible to manipulation
→ enact emergency authority to address problems that may arise
→ provide self-regulatory oversight
• Increases Criminal and Civil Penalties for market manipulation
◎ Increases some maximum monetary penalties tenfold for fraudulent practices
◎ Increases from a misdemeanor to a felony the criminal penalty for those who fail to comply with cease and desist orders in connection with fraud and manipulation
新规中文内容
·重新授权商品期货交易委员会(CFTC)负责监管商品期货交易，直至2013年为止
·加强CFTC在零售外汇交易监管上的权威
◎重申CFTC拥有监督外汇交易、降低欺诈事件发生的权力
◎零售外汇交易商和从事外汇交易的期货经纪商(FCM)一样，应在CFTC注册，并接受CFTC制度及反欺诈条款的监督。
◎提高期货经纪商及零售外汇交易商入门资格及最低资本金要求。
·延长CFTC对交易重要价格发现合约的豁免商业市场进行监管的期限
◎执行CFTC的建议，提高对豁免商业市场的监管
◎制定CFTC用以决定豁免商业市场上交易的合约作为一个重要的价格发现合约是否合格的标准
◎要求CFTC监督豁免商业市场上交易的原油、天然气以及其他有着重要价格发现功能的合约的交易情况
◎要求对重要的价格发现合约的仓位进行限制
◎要求大型交易商报告其持有的重要价格发现合约的仓位数量
◎将CFTC其他重要规定应用于豁免商业市场交易的重要价格发现合约，这些规定包括：
→公布每日交易信息
→加强这些合约管理中的利益竞争机制
→监督交易行为
→监督并执行豁免商业市场规则中的一致性
→对未获准交易的合约进行控制
→颁布紧急规定，应对可能出现的紧急问题
→提供自我规范的监管
·加大对市场操控民事及刑事犯罪的惩罚
◎欺诈行为的罚款最高可以提高到10倍
◎触犯欺诈和操控法律又未及时按命令停止或终止的罪犯，可由轻罪改判重罪
2008年5月14日，美国参议院通过一项农业法案，法案明确提出加强外汇市场监管，提高零售外汇经纪公司资本金要求最高至2000万美元，并授权CFTC全权管理美国零售外汇市场。5月21日，布什否定了这一法案，22日，美国国会否决了布什的裁定。在农业法案的商品期货一章对外汇行业的管理做出了具体的新规。
美国新法案的发布是对外汇行业的监管的加强，在2002年时，当时美国外汇经纪商的门槛只有25万美金的要求，新的法案对大牌照经纪商FCM的现金资本要求提到了2000万美金，同时要求小的经纪商也提高了要求，需要小经纪商注册，需要通过考试。整体看，行业监管在加强。预计新法案实施后，美国的许多不符要求的公司会很可能倒闭或是转移到其他外汇经纪业务监管相对。那是美国的外汇经纪行业会更加集中。最终可能会剩下五家公司。
Forex, the word, means FOReign EXchange market. This is an international market where the buying and selling of money is done freely and 24 hours a day. All Forex trading involve the buying of one currency and the selling of another, simultaneously. Currency quotes are given as exchange rates; that is, the value of one currency relative to another. The relative supply and demand of both currencies will determine the value of the exchange rate. Forex Trading, as with any other form of investing, you must be knowledgeable of what you are trading before you can expect to turn a profit and not trade yourself into a financial hole. Forex trading looks simple but few succeed. A lot of the so called investment wisdom doesn't work and is given by people who have never traded in their lives. You must always remind yourself that Forex trading is so high profitable and riskful that you must do it carefully. Remember it is margin trading and expanded more than 100 times as your normal investment. You need to ask yourself how much you can afford to lose. Be extremely honest with yourself about this, in fact, be more than honest so that you are sure to not overextend your budget and cost yourself the family home. Here are some simple tips that will help you increase your profit potential and prevent you from losing money. 1. Select your first brokerWhen you first decide to trade Forex you will need to locate a reliable broker. It's very important that you familiarize yourself with the software the broker uses for making trades, analyzing the market and any other features they may offer. Many have a training, or tutorial, account that will allow you to signup and make trades for free. Use this to your advantage before just jumping in and tossing your money in. 2. Get a simple method you understandIn Forex trading many people think that the more complicated a method they use in Forex trading the more likely they are to make money.
The fact is that is not a truth and the simple systems work best.
As you know, there are two main ways to analysis the currency rate: fundamental and technical analysis.
Simple systems are more robust and easier to trade with discipline, as you understand the logic and can therefore follow it with confidence when it has a losing period. 3. Trade the big trends and not trade frequentlyAlthough short term trading and long term trading are both good, you have to catch the big long term trends that make the big profits.
The big moves in Forex