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NFA officer to speak at Derivatives Expo

Senior Vice-President of Compliance Yvonne Downs will discuss NFA's "Value Proposition in the New Marketplace" as part of the keynote seminar at the 3rd Annual FOW Derivatives Expo in New York on May 15 and 16. The seminar, "Electronic Trading in the U.S. marketplace and Regulatory Issues," will feature senior representatives from key U.S. and international exchanges and regulatory organizations. The list of participants includes Neal Wolkoff, executive vice-president, New York Mercantile Exchange; Peter Quick, president, American Stock Exchange; Howard Lutnick, co-chairman, Cantor Exchange; De'ana Dow, legal advisor to acting chairman, Commodity Futures Trading Commission; and Phillip McBride Johnson, head of exchange traded derivatives, Skadden Arps Slate Meagher & Flom.

In addition to the keynote seminar, the Expo will offer seminars on topics such as "Weather, Emissions and Power", "The Outlook for B2B Exchanges", "Challenges for the Risk Manager" and "Exchange Traded Funds."

FOW's Derivatives Expo New York also will feature an exhibit area where derivatives market participants can view industry-related products, services and information. NFA is sponsoring a booth in the exhibit hall where representatives of NFA's Trade Practice and Market Surveillance Group will distribute information regarding the Association's regulatory programs and services.

Entrance to the Expo area is free of charge; however, registration is required. There is a fee to attend the seminars. Registration information is available at FOW's web site (www.fow.com/exhibiti/nyinfo.htm).

FOW is the international publishing company that has been producing journals and newsletters for the derivatives markets since 1982.

NFA/FII publish Best Practices Study

On March 15, NFA and the Futures Industry Institute (FII) announced the publication of their joint report, "Recommendations for Best Practices in Order Entry and Transmission of Exchange-Traded Futures and Options Transactions." The recommendations were developed by participants from all sectors of the futures industry in the U.S. and Europe, including representatives from regulatory and exchange authorities, futures commission merchants, market users, technology experts and the legal community. This precedent-setting study, which includes an analysis of each step of the flow of customer orders, was undertaken pursuant to an order of the Commodity Futures Trading Commission with funds allocated from an enforcement action.

The study identifies core principles and best practices in four areas essential to customer protection: intermediary and customer due diligence in trading relationships; account identification, allocation of bunched orders and unusual account activity; give-up transactions; and the use of new technologies in order flow and execution. The project was overseen by three administrators: Peggy Eisen, Chair, FII, and Managing Director, De Guardiola Advisors, Inc.; Susan Phillips, Dean, The George Washington University School of Business and Public Management; and Robert Wilmouth, President, NFA.

The report is available on the web sites of NFA (www.nfa.futures.org) and the FII (www.fiafii.org).

NFA makes Quarterly Activity Report a web-based publication

Beginning in the second quarter of 2001, NFA will convert the Quarterly Activity Report to a web-based publication. The Report, which details all the disciplinary actions taken against Member firms and individuals over a three-month period, had previously been printed and mailed to all NFA Members.

A list of all disciplined firms and individuals will be printed in this newsletter, News,Facts,Actions, and readers will be directed to NFA's web site (www.nfa.futures.org) for additional information.

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.
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