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New eMarket web site launched
As part of a strategic goal to develop new business by offering regulatory programs and services to electronic markets, NFA recently launched a web site called "Services for eMarkets".
"Essentially, the site is a marketing tool to attract new customers," says Derek West, Business Development Manager for Strategic Planning and Communications. "Whether they're an existing marketplace looking for ways to operate more efficiently or a start-up exchange in the process of building a successful business model, we feel that our programs and services can add value to their marketplace."
"Other potential NFA customers are marketplaces trading in metals, grains and energy where self-regulation and market surveillance may not be required. We want these markets to know that we can provide a variety of services that sustain market integrity and increase user confidence."
The eMarkets site includes information on featured services, such as background and credit checks, trade practice & market surveillance, financial analysis and on-site reviews, risk management services and dispute resolution services. Visitors are directed to contact either Derek or Matt Reyburn, Business Development Specialist, for more information. In addition, a news site offers up the latest NFA press releases concerning its e-market initiatives.
Check out the site today at www.nfa.futures.org/emarkets
Tom Sexton named new General Counsel
Tom Sexton was recently appointed Vice President, General Counsel and Secretary at the Board of Directors' August 16, 2001 meeting in Chicago. He assumes the General Counsel duties from Dan Roth, who was recently promoted to Senior Executive Vice President and COO.
"With Dan Roth's increased responsibilities, we felt the time had come to turn his General Counsel duties over to someone else," says NFA President Robert Wilmouth. "Over the past ten years, Tom Sexton has demonstrated the knowledge and leadership skills NFA needs in order to address the myriad legal issues facing the Association in this rapidly changing industry."
Sexton joined NFA in July of 1991 as an Attorney and subsequently was promoted to Senior Attorney in 1996, Assistant General Counsel in 1998 and Associate General Counsel in 2000. Since February of 2000, he has also served as an adjunct faculty member at the Illinois Institute of Technology, where he team teaches a course in futures/securities compliance.
Prior to coming to NFA, Mr. Sexton served for three years as an Associate in the law office of Ogden, Murphy & Wallace, located in Seattle, Washington.
Reflecting the rapidly changing futures industry, Sexton says the legal department's main objective in upcoming years will be to continue to "provide high quality legal services to NFA and its Members in our traditional regulatory areas and also to new customers as we move towards being a regulatory service provider."
"We need to provide outstanding legal services whether it relates to compliance matters, registration matters, advising our trade practice and market surveillance group, or addressing regulatory requirements for the industry," he adds.
A graduate of Notre Dame Law School, Sexton also obtained an MBA degree from Loyola University while working at NFA.
NFA's New York Office in the wake of the September 11 tragedy
In the wake of the terrible disaster in New York on September 11, NFA is grateful to announce that all staff members in the New York office are safe. The building at 120 Broadway that houses the office is structurally sound, sustaining only minor damages. However, because of the smoke and dust, buildings close to the disaster area are not allowed to utilize their ventilation systems. In addition, the area's phone system is down, and is not expected to be back on line until anywhere from three to eight weeks. During this interim period, NFA has been researching alternative office space.
The New York staff has also been reaching out to NFA Members in the affected and surrounding areas to offer whatever assistance is needed.
Equipped with laptop computers shipped from NFA's Chicago headquarters, the New York employees have been working hard to regain a sense of normalcy to their operations.
"Obviously, it's been a difficult time for all of us," says New York Director Joe Locashio. "However, I am very proud of the commitment these employees have shown to NFA, its membership and the futures industry."