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Notice I-15-24

November 03, 2015

NFA announces nominations made by the 2015 Nominating Committee

Effective October 8, 2015, NFA's Articles of Incorporation were amended to reduce the size of NFA's Board of Directors from 37 to 29 Directors. The new Board structure will be in place in February 2016, and all current Directors' terms expire at the Board's regular Annual Meeting on February 18, 2016. In accordance with NFA Bylaw 406, the Office of the Secretary has received from the 2015 Nominating Committee a list of its nominees for positions on NFA's Board of Directors and 2016 Nominating Committee. The terms of the new Member Director positions have been staggered as determined by the respective Subcommittees of the Nominating Committee. The list of nominees included with this Notice shall serve as notification to NFA Members of the candidates proposed by the 2015 Nominating Committee.

Other nominations may be made by petition. Article VII, Section 3 of NFA's Articles of Incorporation provides that:

    (b) Petition Procedure.

    "Nominations may be made for elected FCM and LTM; IB; CPO and CTA; and SD, MSP and RFED 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; SD, MSP and RFED; IB; and CPO and CTA); or

      (ii) Petition submitted by any organization or association recognized by NFA as fairly representing the category (See (b)(i) above) for which the nomination is made.

    Petitions shall be submitted in the manner specified in the Bylaws. No petition may nominate more than one candidate for the same position."

Article X, Section 3 of NFA's Articles of Incorporation similarly permits nominations for the Nominating Committee by petition.

NFA Bylaw 406 requires that each petition must 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. Therefore, if you wish to submit nominations by petition, please make sure that such petitions are received by the Secretary of NFA on or before November 24, 2015. Petitions received after that date will not be considered.

Petitions may be submitted by mail, email or fax for receipt no later than November 24, 2015 to:

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

By Email:
Election2016@nfa.futures.org

By Fax:
Attn: Thomas W. Sexton
(312) 781-1672

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


* 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."


NOMINEES FOR NFA BOARD OF DIRECTORS


FCM — As of the Board's regular Annual Meeting on February 18, 2016, FCM representation on the Board will be reduced from 7 Directors to 5 Directors. Of the five (5) open positions in the FCM category, at least two (2) representatives must be affiliated with a top-ten FCM and at least two (2) must be representatives of FCMs and LTMs that are not affiliated with a top-ten FCM based on the total amount of segregated funds and secured amounts as of June 30 preceding the election. The nominees are:

Top Ten FCMs

Michael C. Dawley
Managing Director
Goldman Sachs & Co.
(2 Year Term)

Antonio Reyes Miras
Managing Director
Americas Head - Futures, Clearing & Collateral
Citigroup Global Markets, Inc.
(1 Year Term)

Non-Top Ten FCMs

Gerald F. Corcoran
Chief Executive Officer
R.J. O'Brien & Associates LLC
(2 Year Term)

Scott A. Cordes
President
CHS Hedging LLC
(1 Year Term)

Maureen C. Downs
President
Rosenthal Collins Group LLC
(2 Year Term)

IB — IB representation on the Board has not been reduced. This year there are two (2) open Director positions in the IB category. One (1) open position must be filled by an IB representative required to maintain minimum adjusted net capital. The other one (1) open position must be filled by an IB representative not required to maintain minimum adjusted net capital. The nominees are:

Guaranteed IB

Paul J. Georgy
President
Allendale, Inc.
(2 Year Term)

Independent IB

Michael T. Burke
Chief Executive Officer
HighGround Trading LLC
(1 Year Term)

CPO/CTA — As of the Board's regular Annual Meeting on February 18, 2016, the CPO/CTA representation on the Board will be reduced from 5 Directors to 4 Directors. There are four (4) open positions in the CPO/CTA category of which at least one (1) representative must rank within the top 5% and at least one (1) representative must rank within the top 10% 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 preceding the election.

The Nominating Committee selected one nominee for the position to be filled by a CPO or CTA ranked in at least the top 5%. The nominee is:

Adam C. Cooper
Senior Managing Director and Chief Legal Officer
Citadel
(1 Year Term)

The Nominating Committee selected one nominee for the position to be filled by a CPO or CTA ranked in at least the top 10%. The nominee is:

Brendan R. Kalb
Managing Director & General Counsel
AQR Capital Management LLC
(2 Year Term)

The Nominating Committee selected one nominee for an at-large position that may be filled with an individual drawn from a top 5%, top 10% or non-top 5% or 10% CPO or CTA. The nominee is:

Ernest L. Jaffarian
CEO/CIO
Efficient Capital Management LLC
(1 Year Term)

The Nominating Committee selected two nominees for an at-large position creating a contested election. This at-large position may be filled with an individual drawn from a top 5%, top 10% or non-top 5% or 10% CPO or CTA. This position is for a 2 year term. The nominees for this contested election are:

Douglas L. Bry
Senior Strategist
Welton Investment Partners LLC

vs.

James L. Koutoulas
Chief Executive Officer
Typhon Capital Management LLC

SD/MSP/RFED — As of the Board's regular Annual Meeting on February 18, 2016, the SD/MSP/RFED representation on the Board will be reduced from 7 Directors to 5 Directors. Of the five (5) open positions in the SD/MSP/RFED category, at least two (2) must be representatives of SDs that are large financial institutions and at least two (2) must be representatives of SDs, MSPs or RFEDs that are not large financial institutions as of June 30 preceding the election. The nominees are:

Large Financial Institutions

Robert P. Burke
Managing Director
Bank of America Merrill Lynch
(2 Year Term)

Philip A. Olesen
Managing Director & Global Head of Credit Trading
UBS Securities LLC
(1 Year Term)

Don Thompson
Managing Director & Associate General Counsel
JPMorgan Chase & Co.
(2 Year Term)

Non-Large Financial Institutions

Charlotte B. McLaughlin
President and CEO
PNC Capital Markets LLC
(1 Year Term)

Sheryl M. Wallace
Vice President, Cargill Risk Management
Cargill, Incorporated
(2 Year Term)


NOMINEES FOR 2016 NOMINATING COMMITTEE


FCM — There is one (1) open position on the 2016 FCM Nominating Subcommittee. The nominee is:

David A. Olsen
Managing Director Global Clearing
JP Morgan Clearing Corp.

IB — There is one (1) open position on the 2016 IB Nominating Subcommittee. The nominee is:

Ryan W. Griffeth
Postrock Brokerage LLC

Steven M. Felsenthal
General Counsel & Chief Compliance Officer
Millburn Ridgefield Corp.

SD/MSP/RFED — There is one (1) open position on the 2016 SD/MSP/RFED Nominating Subcommittee. The nominee is:

Seth P. Bender
Senior Vice President & Senior Legal Counsel
HSBC Bank PLC

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