Board of Directors

NFA's Board of Directors is its principal governing and policy development body. The Board consists of both Member Directors and Public Directors. NFA's Board is structured to ensure representation of each membership category. Member Directors are selected by the Members they represent through an election process.

See Article VII: Board of Directors for more information regarding the Board's composition and election process. The Board meets quarterly in February, May, August and November.

BOARD UPDATE VIDEOS

Following each Board meeting, NFA distributes a Board Update video, highlighting regulatory updates and other notable information.

VIEW VIDEOS

Michael C. Dawley* 
Goldman Sachs & Co.
New York, N.Y.

Maureen C. Downs*
Phillip Capital Inc.
Chicago, Ill.

Maria Chiodi
Managing Director and Counsel
Credit Suisse Securities (USA) LLC
New York, N.Y.
(term ending February 2021)

Gerald F. Corcoran
Chief Executive Officer
R.J. O’Brien & Associates, LLC
Chicago, Ill.
(term ending February 2020)

Michael C. Dawley*
Goldman Sachs & Co. 
New York, N.Y.
(term ending February 2020)

Maureen C. Downs*  
Phillip Capital Inc.
Chicago, Ill.
(term ending February 2020)

Thomas R. Kadlec*
President
ADM Investor Services, Inc.
Chicago, Ill.
(term ending February 2021)

Seth P. Bender 
Senior Vice President and Associate General Counsel
HSBC Bank PLC
New York, N.Y.
(term ending February 2021)

William F. McCoy*
Managing Director
Morgan Stanley
New York, N.Y.
(term ending February 2020)

Charlotte B. McLaughlin
President and Chief Executive Officer
PNC Capital Markets LLC
Pittsburgh, Pa.
(term ending February 2021)

Don Thompson*
JPMorgan Chase & Co.
New York, N.Y.
(term ending February 2020)

Sheryl M. Wallace
President North America Grain
Cargill, Incorporated
Wayzata, Minn.
(term ending February 2020)

Douglas L. Bry*
President
Augur Trading Company
Carmel, Cal.
(term ending February 2020)

Ernest L. Jaffarian*
CEO/CIO
Efficient Capital Management LLC
Warrenville, Ill.
(term ending February 2021)

Martin Lueck
Research Director
Aspect Capital Limited
London, U.K.
(term ending February 2021)

Nicola Watson
Managing Director, Head of Strategy and Corporate Development
Winton
New York, N.Y.
(term ending February 2020)

Michael T. Burke
Chief Executive Officer
HighGround Trading LLC
Chicago, Ill.
(term ending February 2021)

Scott W. Stewart 
Chief Executive Officer
Stewart-Peterson Group, Inc. 
West Bend, Wis.
(term ending February 2020)

Mark G. Bagan
President and Chief Executive Officer
Minneapolis Grain Exchange
Minneapolis, Minn.

David S. Goone*
Chief Strategy Officer
Intercontinental Exchange, Inc.
Chicago, Ill.

John F. Sandner*
Special Policy Advisor, Retired Chairman of the Board
CME Group Inc.
Chicago, Ill.

Ronald H. Filler*
Professor of Law
Naples, Fla.
(term ending February 2020)

Arthur W. Hahn 
Of Counsel
Katten Muchin Rosenman LLP
Chicago, Ill.
(term ending February 2020)

Douglas E. Harris*
Managing Director
Promontory Financial Group LLC
New York, N.Y.
(term ending February 2021)

The Honorable Jim Marshall
Former U.S. Congressman, House Agriculture and Financial Services Committees
Washington, D.C.
(term ending February 2020)

Mary M. McDonnell
Chief Executive Officer
McDonnell & Associates
Chicago, Ill.
(term ending February 2020)

Michael H. Moskow*
Vice Chair and Distinguished Fellow
The Chicago Council on Global Affairs
Chicago, Ill.
(term ending February 2020)

Charles P. Nastro
New York, N.Y.
(term ending February 2021)

Ronald S. Oppenheimer*
Houston, Tex.
(term ending February 2021)

Todd E. Petzel*
Chief Investment Officer
Offit Capital Advisors LLC
New York, N.Y.
(term ending February 2021)

Michael R. Schaefer
New York, N.Y.
(term ending February 2021)

Leo Melamed
Chairman Emeritus
CME Group Inc.
Chairman & CEO
Melamed & Associates
Chicago, Ill.