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November 14, 2007
NFA Announces Nominations Made by the 2007 Nominating Committee
In accordance with NFA Bylaw 406, the Office of the Secretary has received from the 2007 Nominating Committee a list of its nominees for positions on NFA's Board of Directors and 2008 Nominating Committee. The list of nominees included with this notice shall serve as notification to NFA Members of the candidates proposed by the 2007 Nominating Committee.
Other nominations may be made by petition. Article VII, Section 3(b) of NFA's Articles of Incorporation provides that:
"Nominations may be made for elected FCM and LTM, IB, and CPO and CTA Director positions by:
(i) Petition signed by 50 or more NFA Members* in the category for which the nomination is made (i.e., FCM and LTM, IB, and CPO and CTA); or
(ii) Petition submitted by any organization or association recognized by NFA as fairly representing the category ... for which the nomination is made.
NFA Bylaw 406 requires that each petition identify the position to which the nomination pertains, and that all petitions must be received by the Secretary within 21 days of the date of this Notice. If you wish to submit nominations by petition, please make sure that petition candidates meet the category requirements of Articles VI, VII and X, and that such petitions are received by the Secretary of NFA on or before December 5, 2007. Petitions received after that date will not be considered.
National Futures Association
Attn: Thomas W. Sexton
200 West Madison Street, Suite 1600
Chicago, Illinois 60606-3447
* Section 2 of Article VI of the Articles of Incorporation provides that for purposes of signing nomination petitions, a Member will be deemed to be a Member "only in that single category to which its business activities primarily relate."
This year there are four open positions in the FCM category on the Board. Two of the positions must be filled by FCMs that rank in the top ten FCMs based on the total amount of segregated funds and secured amounts as of June 30th preceding the election. The Nominating Committee nominated the two incumbents for these two positions.
The other two open positions must be filled by FCMs that do not rank in the top ten. The Nominating Committee nominated three individuals for these two open positions, thereby making it a contested election in the Other FCM category.
|Nominees - Top Ten FCM Category:
Thomas A. Kloet
Michael R. Schaefer
Nominees - Other FCM Category:
Scott A. Cordes
Gerald F. Corcoran
John D. Streich
This year there is one open position in the IB category on the Board which must be filled by an Guaranteed IB. The nominee named by the Nominating Committee is:
This year there are two open positions in the CPO/CTA category on the Board. As the two CPO/CTA Board members whose terms do not expire next year rank in the top 20% of CPOs or CTAs with funds under management allocated to futures, it is not mandatory that the two open positions be filled by CPO/CTAs that rank in the top 20%. The nominees are:
|Nominees - CPO and CTAs|
Chief Executive Officer
Liberty Funds Group, Inc.
Robert E. Murray
Chief Operating Officer
Graham Capital Management LP
There is one open position on the 2008 FCM Nominating Subcommittee, which must be filled by an individual from a top-ten FCM. The nominee is:
Fimat USA LLC
There is one open position on the 2008 IB Nominating Subcommittee, which must be filled by an individual from an Independent IB . The nominee is:
Chief Executive Officer
Born Capital, LLC
There is one open position on the 2008 CPO/CTA Nominating Subcommittee. The nominee is:
Senior Vice President
Blenheim Capital Management L.L.C.