Welcome to the online version of NFA's rulebook, the NFA Manual. We update this version on an ongoing basis. If you want to check out what changes have most recently been made to the NFA Manual, go to Recent Manual Updates.

The NFA Manual contains the following nine sections:

NFA's Functions Explained: This unit explains how NFA evolved and describes our structure and objectives.

Articles of Incorporation: The purpose and corporate structure of NFA are set out in detail here.

Bylaws: The Bylaws establish requirements for membership and association with a Member, give rules for calling Member meetings and holding elections, establish the Board of Directors, officers and committees and set out the dues and assessment fee schedules.

Compliance Rules: This section contains definitions, the rules governing the business conduct of Members and a discussion of compliance procedures.

Code of Arbitration: This section contains definitions and the rules and procedures for resolving disputes involving customer claims.

Member Arbitration Rules: This section contains definitions and the rules and procedures governing the resolution of disputes between NFA Members.

Financial Requirements: Here you'll find a discussion of the amount of capital NFA Members must maintain, how financial requirements are computed and what filings are required.

Registration Rules: This section contains definitions, general registration requirements and procedures, information about temporary licenses and proficiency requirements, the procedures NFA follows to deny, condition, suspend, restrict or revoke registration and information about withdrawing from NFA membership, accessing registration records and the requirements for using NFA's Online Registration System.

Interpretive Notices: This section provides in-depth explanations of NFA Bylaws, Compliance, Registration and Arbitration Rules.

If you have any questions concerning the information, please direct them to Deborah Loehrke in the Communications and Education Department at (312) 781-1392 or dloehrke@nfa.futures.org