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.


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



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


Don Thompson*
JPMorgan Chase & Co.
New York, N.Y.

Futures Commission Merchants

Scott Andersen
SG Americas Securities LLC
Chicago, Ill.
Gerald F. Corcoran*
R.J. O’Brien & Associates LLC
Chicago, Ill.
Maureen C. Downs*
Phillip Capital, Inc.
Chicago, Ill.
Thomas R. Kadlec
ADM Investor Services, Inc.
Chicago, Ill.

Swap Dealers and Major Swap Participants

Seth P. Bender
New York, N.Y.
Mark L. Maurer
StoneX Markets LLC
Chicago, Ill.
William F. McCoy*
Morgan Stanley
New York, N.Y.
Charlotte B. McLaughlin
PNC Capital Markets LLC
Pittsburgh, Pa.
Don Thompson*
JPMorgan Chase & Co.
New York, N.Y.

Commodity Pool Operators and Commodity Trading Advisors

Douglas L. Bry*
Augur Trading Company
Morrison, Colo.
Ernest L. Jaffarian*
Efficient Capital Management LLC
Warrenville, Ill.
Martin Lueck
Aspect Capital Limited
London, U.K.
Constance R. Wick
Crabel Capital Management
Milwaukee, Wis.

Introducing Brokers

Michael T. Burke
HighGround Trading LLC
Chicago, Ill.
Scott W. Stewart*
Stewart-Peterson Group, Inc.
West Bend, Wis.

Contract Markets

Mark G. Bagan*
Minneapolis Grain Exchange
Minneapolis, Minn.
Trabue Bland
Intercontinental Exchange, Inc.
New York, N.Y.
Julie Holzrichter*
CME Group
Chicago, Ill.

Public Representatives

Ana Beskin
Amazon People Experience and Tech
Seattle, Wash.
Michael C. Dawley*
BlueFin Partners LLC
New York, N.Y.
Ronald H. Filler
New York Law School
Naples, Fla.
Arthur W. Hahn*
Chicago, Ill.
Douglas E. Harris
New York, N.Y.
Mary M. McDonnell*
McDonnell & Associates
Lake Geneva, Wis.
Michael H. Moskow*
The Chicago Council on Global Affairs
Chicago, Ill.
Ronald S. Oppenheimer*
Boca Raton, Fla.
Todd E. Petzel
Offit Capital Advisors LLC
New York, N.Y.
Michael R. Schaefer
New York, N.Y.

Permanent Special Advisor to the Executive Committee and Board of Directors

Leo Melamed
CME Group, Inc.
Chicago, Ill.
Melamed & Associates
Chicago, Ill.

*Executive Committee Member