Proposed Rule

BYLAW 1301. SCHEDULE OF DUES AND ASSESSMENTS.

Subject to the provisions of Article XII, dues and assessments of Members shall be as follows:

(b) FCM Members

(i) Each FCM Member shall pay to NFA an assessment equal to:

(A) $.06 .04 for each commodity futures contract traded on a contract market (other than an option contract) on a round-turn basis;

(B) $.03 .02 for each option contract traded on a contract market on a per trade basis;

(C) $.04 for each security futures contract, as defined in Section 1a(31) of the Act, traded on a round-turn basis, carried by it in a commodity futures account;

carried by it for a customer other than: (1) a person having privileges of membership on a contract market where such contract is entered; or (2) a business affiliate of such FCM that directly or indirectly owns 100 percent of or is owned 100 percent by or has 100 percent ownership in common with such FCM provided such FCM has privileges of membership on the contract market where such contract is entered; or (3) an omnibus account carried for another FCM Member for which assessments are payable to NFA by the other FCM;

(D) $.06 .04 for each commodity futures contract traded on a foreign board of trade (other than an option contract) on a round-turn basis;

(E) $.03 .02 for each option contract traded on a foreign board of trade on a per trade basis,

carried by it for a customer other than on an omnibus account basis for another FCM Member for which assessments are payable to NFA by the other FCM; and

(F) $.04 .02 for each dealer option contract on a per trade basis carried by it for a customer other than a business affiliate of such FCM that directly or indirectly owns 100 percent of or is owned 100 percent by or has 100 percent ownership in common with such FCM Member:

Provided, however, such assessments shall be suspended or adjusted by the Board for a period not to exceed three months when in the judgment of the Board such action is appropriate in light of NFA's overall financial goals. The FCM Member shall invoice these assessments to its customer and shall remit the amount due to NFA; and

(ii) Each FCM for which NFA serves as the DSRO, as defined in NFA Financial Requirements Section 2, shall pay to NFA annual dues of $7,500 5,625 and each FCM for which NFA does not serve as the DSRO as defined in NFA Financial Requirements Section 2, shall pay to NFA annual dues of $2,000 1,500.

(d) Other Members

Annual dues for the other membership categories shall be as follows:

(i) Commodity Trading Advisor -- $1000 750
(ii) Commodity Pool Operator -- $1000 750
(iii) Introducing Broker -- $1000 750