Notices to Members

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Notice I-24-08

April 1, 2024

Effective date for amendments to NFA's Code of Arbitration and Member Arbitration Rules

NFA recently amended the Code of Arbitration and Member Arbitration Rules to ensure NFA is able to continue offering a high-quality arbitration program. Among other things, the amendments increase the arbitrator honorariums paid to the chair of an arbitration panel or the sole arbitrator in a proceeding and reallocate how hearing fees are assessed among the parties for claims initiated by a customer. The Board also approved several other minor technical amendments to the Code and Rules, including:

  • Increasing postponement fees for scheduled oral hearings;
  • Allowing a panel or sole arbitrator to order that a hearing take place virtually;
  • Consolidating lower claim amount tiers; and
  • Eliminating the motion fee waiver provision.

The amendments, which were based on feedback from NFA arbitrators, were unanimously approved by the Board at its February 15, 2024, meeting.

These amendments become effective for any arbitration claim filed on or after May 1, 2024, except that the amendment regarding virtual hearings is effective immediately.

NFA's March 11, 2024, rule submission letter to the CFTC contains more detailed information regarding the amendments.

If you have any questions regarding the amendments, please contact Heather Cook, Manager of Arbitration ( or 312-781-1481).

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