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Notice I-11-08

April 13, 2011

Exchange of Documents in Arbitration Proceedings - Amendments to the Interpretive Notice entitled Standard List of Documents to be Exchanged Under Section 8 of NFA's Code of Arbitration

The CFTC recently approved certain amendments to Interpretive Notice 9031 - Standard List of Documents to be Exchanged Under Section 8 of NFA's Code of Arbitration relating to a party's obligations to automatically exchange specified documents in connection with an NFA arbitration proceeding. These amendments will be effective for all claims filed on or after April 15, 2011.

Section 8(a) of NFA's Code of Arbitration requires that, as part of the discovery process, all parties in an NFA arbitration proceeding automatically exchange certain documents that NFA has identified as routinely relevant for the cause of action alleged in a particular case. These documents are set forth in the Interpretive Notice.

When NFA's Board originally approved the list of relevant documents in the Interpretive Notice, NFA did not have arbitration jurisdiction over disputes that involved forex transactions. Although many of the documents identified in the Notice are relevant regardless of whether the dispute involves commodity futures or forex transactions, NFA's Board recently identified a few additional documents that may be routinely relevant in a dispute that involves forex transactions.

For more information on changes to the Interpretive Notice, please refer to NFA's February 24, 2011 Submission Letter to the CFTC. Questions concerning these changes should be directed to Christine Roche, Manager, Arbitration, (croche@nfa.futures.org or 312-781-1562) or Elizabeth C. Sheridan, Attorney, (esheridan@nfa.futures.org or 312-781-1479).

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