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For Immediate Release
June 28, 2007

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

NFA takes emergency enforcement action against Boston forex firm, United Global Markets LLC

June 28, Chicago - National Futures Association (NFA) has taken an emergency enforcement action against United Global Markets LLC (UGM), a Futures Commission Merchant and Forex Dealer Member located in Boston, Massachusetts. UGM acts as a counterparty to customer accounts trading in off-exchange foreign currency (forex) transactions.

The Member Responsibility Action (MRA), effective immediately, prohibits UGM from soliciting or accepting any additional customer accounts or funds. In addition, the action prohibits UGM from accepting or placing trades for customer accounts except for the liquidation of existing customer positions.

NFA took the action because UGM failed to demonstrate to NFA that it is in compliance with minimum capital requirements. The action will remain in effect until UGM has demonstrated that it has at least $1.5 million in adjusted net capital and provides NFA with a certified financial statement prepared by an independent public accountant who is registered under Section 102 of the Sarbanes-Oxley Act. UGM may request a hearing before NFA's Hearing Committee.

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 futures markets.
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