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Notice I-02-23

December 03, 2002

Reduction of Assessment Fees

NFA's Board of Directors on November 21, 2002, has approved another reduction in NFA's assessment fees to $.06 per round-turn futures contract and $.03 per options contract, the lowest level in NFA's history. The Board noted that the reduction was possible due to a combination of increased trading volume and NFA's continuing cost containment efforts.

The new fee schedule will become effective on January 1, 2003, unless the CFTC notifies NFA that it intends to review the changes to the assessment fees. Members will receive further notification only if the changes do not become effective on January 1, 2003. Assessment fee levels for mini-contracts and security futures will remain at $.04 per round-turn futures contract and $.02 per options transaction.

If you have any questions, you may wish to refer to the Interpretive Notice on Page 9029 in your NFA Manual, which answers frequently asked questions about the assessment fees. Or you may visit NFA's web site at www.nfa.futures.org or contact NFA's Information Center at (312) 781-1410.

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