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For Immediate Release
August 14, 2003

For more information contact:
Cynthia Cain (312) 781-1490, ccain@nfa.futures.org or
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org

NFA Names Michael Piracci to Head Its New York Office

August 14, Chicago - National Futures Association (NFA) announced today that Michael Piracci has joined the organization to head its New York office. In his new position, Mr. Piracci oversees and manages compliance activities for the New York region, which includes NFA Member firms located in New York and certain surrounding states.

"Michael's experience makes him uniquely qualified to further enhance the Association's presence in the New York region," said NFA President Daniel J. Roth.

Mr. Piracci comes to NFA after spending several years at the Commodity Futures Trading Commission (CFTC) as an attorney advisor in the Division of Clearing and Intermediary Oversight. At the Commission, Mr. Piracci acted as the lead attorney for the Division with regard to the CFTC's jurisdiction relating to retail off-exchange foreign currency (forex) trading and worked closely with the Commission's Division of Enforcement on investigations and enforcement matters.

"I am very excited to be joining NFA during this time of tremendous change within the financial services industry," said Mr. Piracci. "I look forward to being a part of the innovative regulatory approach for which NFA is known."

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

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