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October 04, 2001

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 Amendments to Articles IV, VII, VIII, X, XI, XVII, and XVIII of NFA's Articles of Incorporation, and NFA Bylaws 406, 407, 503, 507, 701, 702, 1301, and 1506.*

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") proposed amendments to Articles IV, VII, VIII, X, XI, XVII, and XVIII of NFA's Articles of Incorporation ("Articles") and NFA Bylaws 406, 407, 503, 507, 701, 702, 1301, and 1506. The Articles and Bylaws amendments were unanimously ratified by NFA's Board of Directors ("Board") on August 16, 2001, and the Articles amendments have since been adopted by a two-thirds vote of those NFA Members actually voting in the Contract Market category and a majority of those NFA Members actually voting in the FCM, LTM, and IB category and the Industry Participant (CPO and CTA) category.

NFA intends to make the amendments effective ten days after receipt of this submission by the Commission unless the Commission notifies NFA within the ten-day period that the Commission has determined to review the amendments for approval.

Proposed Amendments to NFA's Articles of Incorporation: Articles IV, VII, VIII, X, XI, XVII, and XVIII

Proposed Amendments to NFA Bylaws 406, 407, 503, 507, 701, 702, 1301, and 1506

Explanation of Proposed Amendments

As mentioned earlier, NFA intends to make the amendments to its Articles and Bylaws effective ten days after receipt of this submission by the Commission unless the Commission notifies NFA within the ten-day period that the Commission has determined to review the amendments for approval.

Respectfully submitted,

Thomas W. Sexton
Vice President and General Counsel

cc: Acting Chairman James E. Newsome
Commissioner Barbara Pedersen Holum
Commissioner David D. Spears
Commissioner Thomas J. Erickson
Phyllis J. Cela, Esq.
John C. Lawton, Esq.
Alan L. Seifert, Esq.
David Van Wagner, Esq.
Riva Spear Adriance, Esq.

* The proposed amendments to Articles IV, VII, VIII, X, XI, XVII, and XVIII of NFA's Articles of Incorporation, and NFA Bylaws 406, 407, 503, 507, 701, 702, 1301, and 1506 became effective on October 15, 2001.

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