Anyone have more information? OTC = Over The Counter I think online transactions can still happen but this looks like a move to squash small retailers so the big boys reign supreme. This is ridiculous, or am I simply overreacting?
Over the counter trading ironically does not include retail establishments that actually use a counter. This new law is the Frank-Dodd act and it affects only firms that are trading in leveraged accounts. And as a matter of fact the law provides an exemption to businesses that can deliver product in less than ten days. But again, your local coin shop in not dealing in leveraged contracts. This law applies to investment houses that sell outside of a market. So Forex is out but the little guys are still in. I work at a bullion store and I am sure that this does not affect us directly at all.
Nevermind. Its about derivitive trading with forex.com Got me freaked out for a second. A moderator can delete this thread if they wish.
