CFTC Rule Submissions

Via Federal Express

Ms. Jean A. Webb
Secretariat
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, N.W.
Washington, DC 20581

Re: National Futures Association: Proposed Amendment to NFA Bylaw 1301*

Dear Ms. Webb:

Pursuant to Section 17(j) of the Commodity Exchange Act, as amended, National Futures Association ("NFA") hereby submits to the Commodity Futures Trading Commission ("CFTC" or "Commission") a proposed amendment to NFA Bylaw 1301. This proposal was approved by NFA's Board of Directors ("Board") on August 19, 2004. NFA respectfully requests Commission review and approval of the proposed amendment.

PROPOSED RULE AMENDMENTS

EXPLANATION OF PROPOSALS

NFA respectfully requests that the Commission review and approve the proposed amendment to NFA Bylaw 1301.

Respectfully submitted,
Thomas W. Sexton
Vice President and General Counsel