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Notice I-98-11

July 24, 1998

Board and Nominating Committee Members Whose Terms Will Expire at the 1999 Annual Election

NFA Bylaw 406 provides that before October 15 of each year, NFA's Secretary shall notify all Members in the FCM, IB, CPO and CTA categories of the elected Directors and the members of the Nominating Committee whose terms shall expire at the Annual Election and shall request that the names of eligible persons to fill those positions be submitted to the Nominating Committee. Enclosed is a list of Board and Nominating Committee members whose terms shall expire at the 1999 Annual Election to be held on January 12, 1999.

Also enclosed is a form for your use in submitting names of persons eligible to fill the vacancies on the Board of Directors and the 1999 Nominating Committee. The Nominating Committee shall consider names which are submitted and the Membership shall be notified of its nominations. Thereafter, additional nominations may be made by petition only. Ballots shall be mailed in December to all Members in categories for which there is a contested election and the ballots will be counted on January 13, 1999. The results shall be circulated before the Annual Meeting in February.

NFA is a membership organization. NFA Members have a voice in NFA's governance through the exercise of the right to suggest candidates and to nominate and elect individuals to serve on NFA's Nominating Committee and Board of Directors. The Nominating Committee relies heavily on the suggestions of the Membership in making its nominating decisions. Please give this matter serious consideration and return your submission(s) to NFA no later than August 21, 1998.

Should you have any questions, please contact Audrey West at
(312) 781-2255.

ELECTED BOARD AND NOMINATING COMMITTEE MEMBERS WHOSE TERMS WILL EXPIRE AT THE 1999 ANNUAL ELECTION

BOARD OF DIRECTORS
(Directors may succeed themselves)


FCMs with 1-15 Offices
Ronald M. Hersch
Senior Managing Director & Director of Futures Division
Bear, Stearns & Co., Inc.
New York, New York

Frederick G. Uhlmann
Senior Vice President
LIT Investor Services Division of First Options Chicago
Chicago, Illinois

FCMs with 16-50 Offices
None

FCMs with 51 or more Offices
Thomas M. Lane, Jr.
Senior Vice President
Prudential Securities, Inc.
New York, New York

Michael R. Schaefer
Executive Vice President
Smith Barney, Inc.
New York, New York


Guaranteed IBs
Lou Illes
President
McFarland Commodities, Inc.
New Orleans, Louisiana
Independent IBs
None
CPOs
George E. Crapple
Vice Chairman and Co-CEO
Millburn Ridgefield Corp.
Greenwich, Connecticut
CTAs
Malinda E. Goldsmith
Vice President
Fundamental Futures, Inc.
Dallas, Texas
NOMINATING COMMITTEE
(Nominating Committee Members may NOT succeed themselves)

FCMs with 1-15 Offices
Burton J. Meyer
Executive Vice President
E.D.&F. Man International, Inc.
New York, New York
FCMs with 16-50 Offices
Jon C. Bailey
Partner
Bradford & Co., Incorporated
Nashville, Tennessee
FCMs with 51 or more Offices
Richard A. Beech
Senior Vice President
National Manager Futures
Dean Witter Reynolds, Inc.
New York, New York
Guaranteed IBs
Paul E. Bates
President
Bates Commodities, Inc.
Normal, Illinois

Alan D. Kluis
President
Northstar Commodity Investment Co.
Minneapolis, Minnesota


Independent IBs
John V. Vaughan, Sr.
Vice President
Warner Group, Inc.
Sioux City, Iowa
CPOs
Peter Lamoureux
President
Everest Asset Management, Inc.
Fairfield, Iowa

Thomas J. McQuiston
President
Morgan Keegan Fund Management, Inc.
Memphis, Tennessee

Thomas W. Rooke
President and Director
Paine Webber Futures Management Corp.
Weehawken, New Jersey


CTAs
Bruce L. Cleland
President
Campbell & Company, Inc.
Baltimore, Maryland

Jerry M. Harris
Senior Vice President
Welton Investment Corporation
Carmel, California

David M. Kozak
Vice President, General Counsel and Secretary
John W. Henry & Company, Inc.
Boca Raton, Florida


COMPOSITION OF NFA’S BOARD OF DIRECTORS

DIRECTORS ELECTED BY THE MEMBERS*:

  1. TWO (2) FCM REPRESENTATIVES - 1 to 15 Offices
  2. TWO (2) FCM REPRESENTATIVES - 16-50 Offices
  3. FIVE (5) FCM REPRESENTATIVES - 51 or more Offices
  4. FIVE (5) FCM REPRESENTATIVES FROM ANY OF THE CATEGORIES 1, 2 OR 3 ABOVE
  5. ONE (1) IB REPRESENTATIVE - Independent
  6. ONE (1) IB REPRESENTATIVE - Guaranteed
  7. ONE (1) IB REPRESENTATIVE FROM EITHER CATEGORY 5 OR 6 ABOVE
  8. THREE (3) CPO REPRESENTATIVES - At least one being from a CPO which ranks within the top one-third of CPOs with funds under management
  9. THREE (3) CTA REPRESENTATIVES - At least one being from a CTA which ranks within the top one-third of CTAs with funds under management

* Contract Market Representatives are appointed by the Contract Markets they represent. Public Directors are elected by the Board of Directors.


COMPOSITION OF NFA’S NOMINATING COMMITTEE

  1. ONE (1) FCM REPRESENTATIVE - 1 to 15 Offices
  2. ONE (1) FCM REPRESENTATIVE - 16 to 50 Offices
  3. ONE (1) FCM REPRESENTATIVE - 51 or more Offices
  4. ONE (1) IB REPRESENTATIVE - Independent
  5. ONE (1) IB REPRESENTATIVE - Guaranteed
  6. ONE (1) IB REPRESENTATIVE FROM EITHER CATEGORY 4 OR 5 ABOVE
  7. THREE (3) CPO REPRESENTATIVES
  8. THREE (3) CTA REPRESENTATIVES

THE COMPLETED SUGGESTION FORMS SHOULD BE RECEIVED
BY AUGUST 21, 1998.

Please Return To:

Daniel J. Roth
Secretary
National Futures Association
200 West Madison Street, Suite 1600
Chicago, Illinois 60606-3447

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