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Notice I-98-18

October 20, 1998

NFA Announces 1998 Nominating Committee Recommendations

In accordance with Bylaw 406, the Office of the Secretary has received from the 1998 Nominating Committee a list of its nominees for positions on NFA’s Board of Directors and 1999 Nominating Committee. The list of nominees included with this notice shall serve as notification to NFA Members of the candidates proposed by the 1998 Nominating Committee.

Other nominations may be made by petition. Article VII, Section 3(b) of NFA's Articles of Incorporation provides that:

"Nominations may be made for elected Director positions by:

    (i)Petition signed by 50 or more NFA Members* in the category for which the nomination is made (i.e., FCM and LTM, IB, CPO, and CTA); or

    (ii)Petition submitted by any organization or association recognized by NFA as fairly representing the category ... for which the nomination is made.

Petitions shall be submitted in the manner specified by the Bylaws. No petition may nominate more than one candidate for the same position."

Article X, Section 3 of NFA's Articles of Incorporation similarly permits nominations for the Nominating Committee by petition.

NFA Bylaw 406 requires that each petition identify the position to which the nomination pertains, and that all petitions must be received by the Secretary within 21 days of the date of this Notice. If you wish to submit additional nominations by petition, please make sure that petition candidates meet the category requirements of Article VI, VII & X, and that such petitions are received by the Secretary on or before November 10, 1998. Petitions received after that date will not be considered.

Petitions should be forwarded to:

National Futures Association
Attn: Daniel J. Roth
200 West Madison Street
Suite 1600
Chicago, Illinois 60606-3447

If you have any questions, do not hesitate to contact Audrey West at (312) 781-2255.


* Section 2 of Article VI of the Articles of Incorporation provides that for purposes of signing nomination petitions, a Member will be deemed to be a Member "only in that single category to which its business activities primarily relate."

1998 NOMINEES


FCM* (1-15 Offices)

Board of Directors- 2 vacancies

Nominating Committee- 1 vacancy

Board of Directors

Ronald M. Hersch
Senior Managing Director & Director of Futures Division
Bear, Stearns & Co., Inc.

Frederick G. Uhlmann
Senior Vice President
E.D. & F. Man International, Inc.

Nominating Committee

Calogero B. Carcione
Vice President of Business Development
Lind-Waldock & Company

FCM* (16-50 Offices)

Board of Directors- No vacancy

Nominating Committee- 1 vacancy

Board of Directors

None

Nominating Committee

Donald Andrew
Senior Vice President
Lehman Brothers, Inc.

FCM* (51+ Offices)

Board of Directors- 2 vacancies

Nominating Committee- 1 vacancy

Board of Directors

Thomas M. Lane, Jr.
Senior Vice President
Prudential Securities, Inc.

Michael R. Schaefer
Executive Vice President
Smith Barney, Inc.

Nominating Committee

Marcy Engel
Managing Director
Solomon Smith Barney, Inc.

IB

Board of Directors- 1 vacancy

Nominating Committee- 3 vacancies

Board of Directors

Lou Illes
President
McFarland Commodities, Inc.

Nominating Committee

F. Mike Clucas
President
Clucas Trading Co.

Scott W. Stewart
President
Stewart-Peterson Group, Inc.

John A. Vassallo
President
Coquest Incorporated

CPO

Board of Directors- 1 vacancy

Nominating Committee- 3 vacancies

Board of Directors

George E. Crapple
Vice Chairman and Co-CEO
Millburn Ridgefield Corp.

Nominating Committee

Richard E. Bornhoft
President
The Bornhoft Group Corporation

John R. Frawley, Jr.
President/CEO
Merrill Lynch Investment Partners, Inc.

Barbara A. Pfendler
Vice President
CIC Investments, Inc.

CTA

Board of Directors- 1 vacancy

Nominating Committee- 3 vacancies

Board of Directors

Malinda E. Goldsmith
Vice President
Fundamental Futures, Inc.

Nominating Committee

Robert M. Aaron
Associated with
Blenheim Investments, Inc.

Robert L. Isaacson
President
Commodity Investment Consultants Ltd.

Edwin L. Miller
President
ELM Financial, Inc.


* Due to the composition of the Board, at least one of the vacancies must be filled from an FCM with 51+ offices. The remaining three vacancies can be filled from any category of FCM. The Nominating Committee must have one representative from each category of FCM.

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