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For Immediate Release
February 26, 2008

For more information contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org

NFA permanently bars three firms and one individual

February 26, Chicago - National Futures Association (NFA) has permanently barred 11 Trading Inc. (11 Trading), Eiger Investment Group (Eiger) and Joerg Heierle from NFA membership. 11 Trading is an Introducing Broker located in Bloomingdale, Illinois and Eiger is a Commodity Trading Advisor located in Toronto, Ontario, Canada. Heierle is the sole principal for both firms. The Decision, issued by NFA's Business Conduct Committee, is based on a Complaint filed in November 2007. None of the respondents subsequently filed an answer to the Complaint.

The Committee found that 11 Trading, Eiger and Heierle failed to cooperate fully and promptly with NFA, and failed to properly register with the Commodity Futures Trading Commission (CFTC) for the types of activities they were undertaking.

NFA had previously issued a Member Responsibility Action against 11 Trading, Eiger and Heierle in May 2007, citing the need to protect customers because NFA was unable to contact Heierle since April 27, 2007. Additionally, in September 2007, a CFTC complaint was filed in the United States District Court for the Southern District of Florida. The court had entered an order freezing the assets under the control of Heierle.

In a separate action, NFA has also permanently barred Easton Bay Capital Management (EBC), a Commodity Pool Operator with its current address in Stamford, Connecticut, from NFA membership. The Decision, issued by NFA's Business Conduct Committee, is based on a November 2007 Complaint, which EBC failed to answer.

The Committee found that EBC failed to file an annual financial report for the Easton Bay Capital Management Ranger Fund LP for 2006 or file a notice that it had not operated the Fund. The Committee also found that EBC failed to provide NFA with its current and correct business address information.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.
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