CFTC Rule Submissions

Via Federal Express

Ms. Jean A. Webb
Secretariat
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, N.W.
Washington, DC 20581

Re: National Futures Association: Proposed Amendments to NFA's Code of Arbitration and Member Arbitration Rules*

Dear Ms. Webb:

Pursuant to Section 17(j) of the Commodity Exchange Act, as amended, National Futures Association ("NFA") hereby submits to the Commodity Futures Trading Commission ("CFTC" or "Commission") proposed amendments to Sections 7, 8(e) and (h), 9(b) and (d) and 10(a) of NFA's Code of Arbitration and Sections 6(a), 7(f) and (i), 9(b) and (d) and 10(a) of NFA's Member Arbitration Rules. These proposal were approved by NFA's Board of Directors ("Board") on February 16, 2006. NFA respectfully requests Commission review and approval of the proposed amendments.

PROPOSED RULE AMENDMENTS

EXPLANATION OF PROPOSALS

NFA respectfully requests that the Commission review and approve the proposed amendments to Sections 7, 8(e) and (h), 9(b) and (d) and 10(a) of NFA's Code of Arbitration and Sections 6(a), 7(f) and (i), 9(b) and (d) and 10(a) of NFA's Member Arbitration Rules.

Respectfully submitted,
Thomas W. Sexton
Vice President and General Counsel