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For Immediate Release
March 02, 2012

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

NFA sanctions Florida firm FX Currency Traders and its principal, Jacob N. Martinez

March 2, 2012, Chicago - National Futures Association (NFA) has ordered FX Currency Traders, Inc., a former forex firm and introducing broker (IB) located in Lake Mary, Florida, not to reapply for NFA membership or act as a principal of an NFA Member. In addition, NFA has ordered the firm's principal and sole owner, Jacob N. Martinez (Martinez), not to reapply for NFA membership for a period of three years and to pay a $150,000 fine to NFA in the event he reapplies for NFA membership after the three-year period expires. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in October 2011 and a settlement offer submitted by FX Currency Traders and Martinez.

The Complaint alleged that FX Currency Traders conducted business with a non-NFA Member, Market Traders Institute, which was required to be registered as an IB with the Commodity Futures Trading Commission (CFTC) but was not. The Complaint also alleged FX Currency Traders failed to carry out its supervisory duties to ensure that Market Traders Institute did not use misleading and deceptive promotional material to generate customer leads. The Complaint charged Martinez with failing to adequately supervise FX Currency Traders' operations by, among other things, allowing FX Currency Traders to engage in impermissible business activity with Market Traders Institute and manipulating FX Currency Traders' financial books and records to make it appear as though the firm was complying with its minimum capital requirement.

The complete text of the Complaint and Decision is available on NFA's website (www.nfa.futures.org).

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures 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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