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For Immediate Release
May 17, 2007
NFA takes emergency enforcement action against 11 Trading Inc., Eiger Investment Group and Joerg Heierle
May 17, Chicago - National Futures Association (NFA) announced that it has suspended from NFA membership 11 Trading Inc., a guaranteed introducing broker (IB) located in Bloomingdale, Illinois, Eiger Investment Group, a commodity trading advisor located in Toronto, Canada, and Joerg Heierle, the principal and an associated person of both firms. NFA took the Member Responsibility Action (MRA) because NFA has been unable to contact Heierle since April 27, 2007. In addition, NFA has received information that suggets Heierle is acting illegally as a futures commission merchant and a commodity pool operator.
The suspension, which is effective immediately, prohibits 11 Trading, Eiger and Heierle from acting in any manner which requires registration under the Commodity Exchange Act. The suspension also prohibits 11 Trading, Eiger and Heierle from soliciting or accepting any additional customer accounts and from distributing, disbursing or transferring any funds without prior NFA approval.
The action will remain in effect until 11 Trading, Eiger and Heierle have demonstrated that they are in compliance with all NFA requirements. 11 Trading, Eiger and Heierle may request a hearing before NFA's Hearing Committee.
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.