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Introducing NFA's new Board members

Seven newly elected members of NFA's Board of Directors attended their first Board meeting on February 19 in Chicago. The directors, representing several NFA constituencies, will serve three-year terms.

"NFA's success depends in part on the quality of the industry representatives who actively participate in the self-regulatory process," said NFA President Dan Roth. "The knowledge, leadership and expertise these new Board members bring to the table will help us continue to provide self-regulation that is both efficient and effective."

The new NFA Board members are:

    Richard Berliand (FCM representative) - Mr. Berliand is the chairman of J.P. Morgan Futures, Inc. He serves as the global head of J. P. Morgan's futures and options business as well as J. P. Morgan's prime brokerage business. Mr. Berliand joined J.P. Morgan & Co. in 1987 and served in various capacities both in London and the U.S. He is also a member of the Board and Executive Committee of the Futures Industry Association. Mr. Berliand earned an M.A. degree from Downing College, Cambridge.

    Jeffrey C. Borchardt (Exchange representative) - Mr. Borchardt is the president and chief executive officer of the Kansas City Board of Trade (KCBT). He joined the KCBT in 1982 as a commodities investigator/auditor and has been spent most of his career there in compliance, regulation, finance and operations. He was named President and CEO in 2004. Mr. Borchardt is a native of St. Joseph, Missouri and graduated from Northwest Missouri State University with a bachelor of science degree in Accounting. He is also a certified public accountant.

    Bruce Cleland (CPO/CTA representative) - Mr. Cleland is the president and chief executive officer of Campbell & Company, an investment management firm located in Towson, Maryland. He has worked in the global derivatives and investment management business since 1973 and has owned and managed firms engaged in clearing, floor brokerage, trading and portfolio management. Mr. Cleland is a graduate of Victoria University in Wellington, New Zealand, where he earned a bachelor of science degree in Commerce and Administration.

    J. Robert Collins, Jr. (Exchange representative) - Mr. Collins is the president of the New York Mercantile Exchange, Inc. Prior to being appointed president in July 2001, Mr. Collins was a trade representative on the board of the Exchange as the senior vice president of natural gas trading at El Paso Merchant Energy. He has also worked as a trader on the floor, serving as a natural gas and crude oil options market maker for Pioneer Futures. Mr. Collins received his bachelor's degree from Texas A&M University.

    Scott A. Cordes (FCM representative) - Mr. Cordes is president of Country Hedging, Inc., the full-service commodity brokerage subsidiary of CHS Inc. He has spent nearly 20 years in the grain business, including five with CHS Milling in wheat procurement. He was appointed to his current position in 2000. Mr. Cordes also holds the Futures Commission Merchants seat on the Minneapolis Grain Exchange Board of Directors. He received his bachelor of science degree in Agricultural Economics from the University of Minnesota.

    Kevin Davis (FCM representative) - Mr. Davis is the chairman and chief executive officer of Man Financial, Inc. Previously with E-Bailey Commodities, Balfour Maclaine and Prebon Yamane, Mr. Davis joined E D & F Man International Ltd in 1991 as manager of their London-based Financial Futures team. In 1997, he became managing director of E D & F Man International, which changed its name to Man Financial in 2001. Mr. Davis studied at the University of Kent at Canterbury, England, where he graduated with a degree in Politics and Government.

    James R. Klingler (CPO/CTA representative) - Mr. Klingler serves as senior vice president, general counsel and corporate secretary of Eclipse Capital, an alternative investment management firm specializing in the directional trading of financial futures, interbank foreign exchange and equities. He previously worked as an associate with the St. Louis law firm of Thompson Coburn (formerly Coburn & Croft) and as a staff attorney with Mercantile Bancorporation, also in St. Louis. From January 1991 to December 1997, he was compliance counsel and, subsequently, associate vice president with A.G. Edwards & Sons, Inc. Mr. Klingler joined Eclipse Capital in January 1998. Mr. Klingler has a B.A. degree in Economics from Vanderbilt University and a J.D. degree from Vanderbilt University School of Law.

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