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Notice I-14-23

September 26, 2014

Board and Nominating Committee Members Whose Terms Will Expire at the Board's 2015 Regular Annual Meeting

Before October 15 of each year, NFA's Secretary shall notify all Members in the Futures Commission Merchant (FCM), Introducing Broker (IB), Commodity Pool Operator and Commodity Trading Advisor (CPO/CTA) and Swap Dealer, Major Swap Participant and Retail Foreign Exchange Dealer (SD/MSP/RFED) categories of the elected Directors and the members of the Nominating Committee whose terms shall expire at the Board of Directors' 2015 regular Annual Meeting and shall request that the names of eligible persons to fill those positions be submitted to the Nominating Committee. In addition, we are requesting the names of eligible persons to fill a newly created position for a representative that ranks within the top 5% of CPOs or CTAs reporting any funds under management allocated to futures and swaps on NFA Form PQR and NFA Form PR as of June 30, 2014.

Enclosed is a list of FCM, IB, CPO/CTA and SD/MSP/RFED Board and Nominating Committee members whose terms shall expire at the Board of Directors' regular Annual Meeting on February 19, 2015. Also enclosed is a form for your use in submitting names of persons eligible to fill the vacancies on the Board of Directors and the 2015 Nominating Committee. For your reference, an explanation of the composition of the Board of Directors and Nominating Committee and of the open positions in this election is provided.

The Nominating Committee shall consider names that are submitted and the membership shall be notified of its nominations. Thereafter, additional nominations may be made by petition only. Ballots shall be mailed in December to all Members in categories for which there is a contested election and the ballots will be counted on January 20, 2015. The results shall be circulated before the Board of Director's regular Annual Meeting in February.

FCM and IB Open Board Positions

Four (4) open positions for FCM Representatives, of which at least two (2) must be affiliated with a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election, and at least one (1) must not be affiliated with a top-ten FCM.

One (1) open position for an Independent IB Representative.

CPO/CTA Open Board Positions

Three (3) open positions for CPO/CTA Representatives, of which at least one (1) must rank within the top 5% of CPOs or CTAs reporting any funds under management allocated to futures and swaps on NFA Form PQR and NFA Form PR as of June 30, 2014.

SD/MSP/RFED Open Board Positions

Four (4) open positions for SD/MSP/RFED Representatives, of which two (2) must be affiliated with an SD that is a Large Financial Institution as of June 30 preceding the election; one (1) must be affiliated with an SD or RFED that is not a Large Financial Institution; and one (1) must be affiliated with an MSP, provided, however, that if there are no persons willing and eligible to be a representative of MSPs, then one (1) representative affiliated with an SD or an RFED.

The Nominating Committee's Open Positions

In addition to the Board of Director vacancies, there are the following open positions on the Nominating Committee in the 2015 Member election:

  • One (1) open position for an FCM Representative who may be affiliated with either a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election or an FCM that is not a top-ten FCM;

  • One (1) open position for an IB Representative who may be affiliated with either a Guaranteed IB or an Independent IB;

  • One (1) open position for a CPO/CTA Representative who may be acting primarily as either a CTA or a CPO; and

  • One (1) open position for an SD/RFED Representative who must be affiliated with an SD or RFED that is not a Large Financial Institution.

NFA is a membership organization. NFA Members have a voice in NFA's governance through the exercise of the right to recommend candidates and to nominate and elect individuals to serve on NFA's Nominating Committee and Board of Directors. The Nominating Committee relies heavily on the recommendations of the membership in making its nominating decisions. Please give this matter serious consideration and return your submission(s) to NFA for receipt no later than October 17, 2014.

Please return your submission(s) by mail, email or fax for receipt no later than October 17, 2014 to:

By Mail:
Thomas W. Sexton
Secretary
National Futures Association
300 South Riverside Plaza, Suite 1800
Chicago, Illinois 60606

By Email:
Election2015@NFA.futures.org

By Fax:
Attn: Tom Sexton
312-781-1467

Should you have any questions, please contact Tom Sexton at (312) 781-1413.

ELECTED BOARD AND NOMINATING COMMITTEE MEMBERS
WHOSE TERMS WILL EXPIRE AT THE BOARD OF DIRECTORS' 2015 REGULAR ANNUAL MEETING


BOARD OF DIRECTORS
(Directors may succeed themselves)


FCMs

Antoine Babule
Chief Executive Officer
Newedge USA, LLC

Maureen C. Downs
President
Rosenthal Collins Group LLC

Christopher K. Hehmeyer
Non-Executive Vice Chairman
KCG Futures

William F. McCoy
Managing Director
Morgan Stanley

IB (Independent)

Jeffrey D. Malec
CEO and Founding Partner
Attain Capital Management, LLC

CPO/CTAs

James L. Koutoulas
Chief Executive Officer
Typhon Capital Management, LLC

John L. Roe
President
Roe Capital Management Inc.

SD/MSP/RFEDs

Martin J. Nance
Chief Compliance Officer
Cournot Financial Products LLC

Philip A. Olesen
Managing Director and Global Head of Credit Trading
UBS Securities LLC

Don Thompson
Managing Director and Associate General Counsel
JPMorgan Chase & Co.

Sheryl M. Wallace
Vice President - Global Manager
Cargill, Incorporated


NOMINATING COMMITTEE
(Nominating Committee members may NOT succeed themselves)


FCM

Marc Nagel
General Counsel
Dorman Trading, LLC

IB

Rodney W. Dow
President
The Dow Corporation

CPO/CTA

Anthony T. Gannon
Chief Executive Officer
Abbey Capital Limited

SD/MSP/RFED

David A. Robertson
Assistant Vice President and North American Deputy General Counsel
Cargill, Incorporated

COMPOSITION OF
NFA'S BOARD OF DIRECTORS
(AS OF THE BOARD'S FEBRUARY 2015 REGULAR ANNUAL MEETING)

1. Seven (7) FCM Representatives — At least three (3) from top-ten FCMs based on the total amount of segregated funds and secured amounts as of June 30 preceding the election and at least three (3) from FCMs that are not ranked as top-ten FCMs;

2. One (1) IB Representative — Independent;

3. One (1) IB Representative — Guaranteed;

4. Five (5) CPO/CTA Representatives — At least three (3) that rank within the top 20%, one (1) of which must rank within the top 5%, of CPOs or CTAs reporting any funds under management allocated to futures and swaps on NFA Form PQR and NFA Form PR as of June 30, 2014;

5. Seven (7) SD/MSP/RFED Representatives — At least three (3) SDs that are Large Financial Institutions as of June 30 of the prior calendar year; at least three (3) SDs that are not Large Financial Institutions; and one MSP, provided that there exists an individual willing and eligible to be an MSP representative. NFA's Board of Directors has resolved to use the list of Participating Dealers on the Federal Reserve Bank of New York's website on a designated webpage "Markets and Policy Implementation," "OTC Derivatives Supervisors Group" to define Large Financial Institutions;

6. No more than five (5) Contract Market Representatives; and

7. Twelve (12) Public Directors.

COMPOSITION OF
NFA'S NOMINATING COMMITTEE

1. Three (3) FCM Representatives — At least one (1) representative from a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election and at least one (1) representative from an FCM not ranked as a top-ten FCM.

2. Three (3) IB Representatives — At least one (1) representative from an Independent IB and at least one (1) representative from a Guaranteed IB.

3. Three (3) CPO/CTA Representatives — At least one (1) representative acting primarily as a CPO and at least one (1) representative acting primarily as a CTA.

4. Three (3) SD/MSP/RFED Representatives — At least one (1) representative from an SD that is a Large Financial Institution and at least one (1) representative from an SD that is not a Large Financial Institution.

SUBMISSION TO NFA NOMINATING COMMITTEE

Printable version of Suggestion for Nomination

SUGGESTION FOR NOMINATION*

Name of Individual
Being Suggested: ________________________________________________________________________

Suggested for Nomination to:
______ Board of Directors
______ Nominating Committee

NFA Member Firm with Which
Suggested Individual is Affiliated: ____________________________________________________________

Firm's Membership Category: _____FCM _____IB _____CPO/CTA _____SD/MSP/RFED

Individual's Title: __________________________________________________________________________

Business Address:
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________

Telephone: _________________________ Email, if known: _______________________________________

Name of Person Making Suggestion:
________________________________________________________

On Behalf of:
____________________________________________________________________________
(NFA Member Firm)

Your Business Telephone: _____________________ Email: _______________________________________

Thank you for your submission. NFA will contact the individual you suggested to confirm his/her willingness to serve and to obtain biographical information that will be forwarded to the Nominating Committee.

* Please complete a separate form for each individual suggested. This form may be photocopied. Please return your submission(s) to NFA for receipt no later than October 17, 2014, by mail, email or fax to:

By Mail:
Thomas W. Sexton
Secretary
National Futures Association
300 South Riverside Plaza, Suite 1800
Chicago, Illinois 60606

By Email:
Election2015@NFA.futures.org

By Fax:
Attn: Tom Sexton
312-781-1467

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