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For Immediate Release
February 01, 2007

For more information contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org

NFA settles enforcement action with Tradex Group LLC; orders the CTA to pay restitution to customers for soliciting forex trading accounts without being properly registered

February 1, Chicago - National Futures Association (NFA) has permanently barred from NFA membership, Tradex Group LLC (Tradex), a Commodity Trading Advisor located in Boston, Massachusetts. The Decision issued by an NFA Hearing Panel is based on a Complaint filed in June 2006 and a settlement offer submitted by Tradex.

The Complaint alleged that Tradex solicited retail customers to trade off-exchange foreign currency (forex) futures and options with its parent company, Tradex Handel & Beratungs AG (Tradex AG). The Commodity Exchange Act prohibits the offering of forex transactions to retail customers unless the counterparty is a regulated entity as explained in the Act. For the purposes of offering forex to retail customers, Tradex AG is not a counterparty specified in the Act.

The Hearing Panel ordered Tradex to pay $22,144.53 in restitution to their customers located in the United States, whose accounts were closed with a debit balance. In addition to the permanent bar, Tradex is prohibited from acting as a principal of any NFA Member.

The complete text of the Complaint and Decision can be found on NFA's Web site (www.nfa.futures.org)

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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