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Notice I-99-12

July 26, 1999

Board and Nominating Committee Members Whose Terms Will Expire at the 2000 Annual Election

NFA Bylaw 406 provides that before October 15 of each year, NFA's Secretary shall notify all Members in the FCM, IB, CPO and CTA categories of the elected Directors and the members of the Nominating Committee whose terms shall expire at the Annual Election and shall request that the names of eligible persons to fill those positions be submitted to the Nominating Committee. Enclosed is a list of Board and Nominating Committee members whose terms shall expire at the 2000 Annual Election to be held on January 11, 2000.

Also enclosed is a form for your use in submitting names of persons eligible to fill the vacancies on the Board of Directors and the 2000 Nominating Committee. The Nominating Committee shall consider names which are submitted and the membership shall be notified of its nominations. Thereafter, additional nominations may be made by petition only. Ballots shall be mailed in December to all Members in categories for which there is a contested election and the ballots will be counted on January 12, 2000. The results shall be circulated before the Annual Meeting in February.

NFA is a membership organization. NFA Members have a voice in NFA's governance through the exercise of the right to suggest candidates and to nominate and elect individuals to serve on NFA's Nominating Committee and Board of Directors. The Nominating Committee relies heavily on the suggestions of the membership in making its nominating decisions. Please give this matter serious consideration and return your submission(s) to NFA no later than August 20, 1999.

Should you have any questions, please contact Audrey West at (312) 781-2255.

ELECTED BOARD AND NOMINATING COMMITTEE MEMBERS WHOSE TERMS WILL EXPIRE AT THE 2000 ANNUAL ELECTION

BOARD OF DIRECTORS
(Directors may succeed themselves)


FCMs with 1-15 Offices
David M. Pryde
Managing Director
J.P. Morgan Futures, Inc.
New York, New York

Wallace G. Weisenborn
President
ING (U.S.) Securities,
Futures & Options, Inc.
Chicago, Illinois

FCMs with 16-50 Offices
Douglas O. Kitchen
Partner
Bradford & Co., Incorporated
Nashville, Tennessee

FCMs with 51 or more Offices
Laurence E. Mollner
Previously with Dean Witter Reynolds, Inc.
New York, New York

Ronald S. Oppenheimer
First Vice President & General Counsel
Futures & Options
Merrill Lynch & Co.
New York, New York


Guaranteed IBs
None
Independent IBs
William D. Darby
President
Darby Trading Consultants, Inc.
White Plains, New York
CPOs
Patrick L. Welton
President
Welton Global Funds
  Management Corporation
Carmel, California
CTAs
Douglas L. Bry
President
Northfield Trading LP
Denver, Colorado
NOMINATING COMMITTEE
(Nominating Committee Members may NOT succeed themselves)

FCMs with 1-15 Offices
Calogero B. Carcione
Director
Cargill Investor Services, Inc.
Chicago, Illinois
FCMs with 16-50 Offices
Donald G. Andrew
Senior Vice President
Lehman Brothers, Inc.
New York, New York
FCMs with 51 or more Offices
Marcy Engel
Managing Director
Salomon, Smith Barney, Inc.
New York, New York
Guaranteed IBs
F. Mike Clucas
President
Clucas Trading Co.
Galva, Illinois

Scott W. Stewart
President
Stewart-Peterson Group, Inc.
West Bend, Wisconsin


Independent IBs
John A. Vassallo
President
Coquest Incorporated
Dallas, Texas
CPOs
Richard E. Bornhoft
President
The Bornhoft Group Corporation
Denver, Colorado

John R. Frawley, Jr.
President and CEO
Merrill Lynch Investment Partners, Inc.
New York, New York

Barbara A. Pfendler
Vice President
CIS Investments, Inc.
Chicago, Illinois


CTAs
Robert M. Aaron
President
Derivatives Portfolio Management LLC
Somerset, New Jersey

Robert L. Isaacson
President
Commodity Investment Consultants, Ltd.
Woodside, California

Edwin L. Miller
President
ELM Financial, Inc.
Dallas, Texas


COMPOSITION OF NFA’S BOARD OF DIRECTORS

DIRECTORS ELECTED BY THE MEMBERS*:

  1. TWO (2) FCM REPRESENTATIVES - 1 to 15 Offices
  2. TWO (2) FCM REPRESENTATIVES - 16-50 Offices
  3. FIVE (5) FCM REPRESENTATIVES - 51 or more Offices
  4. FIVE (5) FCM REPRESENTATIVES FROM ANY OF THE CATEGORIES 1, 2 OR 3 ABOVE
  5. ONE (1) IB REPRESENTATIVE - Independent
  6. ONE (1) IB REPRESENTATIVE - Guaranteed
  7. ONE (1) IB REPRESENTATIVE FROM EITHER CATEGORY 5 OR 6 ABOVE
  8. THREE (3) CPO REPRESENTATIVES - At least one being from a CPO which ranks within the top one-third of CPOs with funds under management
  9. THREE (3) CTA REPRESENTATIVES - At least one being from a CTA which ranks within the top one-third of CTAs with funds under management

* Contract Market Representatives are appointed by the Contract Markets they represent. Public Directors are elected by the Board of Directors.


COMPOSITION OF NFA’S NOMINATING COMMITTEE

  1. ONE (1) FCM REPRESENTATIVE - 1 to 15 Offices
  2. ONE (1) FCM REPRESENTATIVE - 16 to 50 Offices
  3. ONE (1) FCM REPRESENTATIVE - 51 or more Offices
  4. ONE (1) IB REPRESENTATIVE - Independent
  5. ONE (1) IB REPRESENTATIVE - Guaranteed
  6. ONE (1) IB REPRESENTATIVE FROM EITHER CATEGORY 4 OR 5 ABOVE
  7. THREE (3) CPO REPRESENTATIVES
  8. THREE (3) CTA REPRESENTATIVES

THE COMPLETED SUGGESTION FORMS SHOULD BE RECEIVED
BY AUGUST 20, 1999.

Please Return To:

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

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