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For Immediate Release
February 16, 2006

For more information contact:
Karen Wuertz (312) 781-1335,
Larry Dyekman (312) 781-1372,

NFA announces Board of Directors election results

February 16, Chicago - The Board of Directors of National Futures Association (NFA) re-elected Michael R. Schaefer, managing director at Citigroup Global Markets Inc., to serve a one-year term as chairman at their meeting on February 16. The Board also elected W. Robert Felker, chairman of J.P. Morgan Futures Inc., for a one-year term as vice-chairman.

In addition, the Board elected the following individuals to serve two-year terms as public directors: Douglas E. Harris, managing director of Promontory Financial Group LLC; Todd E. Petzel, managing director and chief investment officer for Azimuth Trust Company LLC; and Susan M. Phillips, dean of the School of Business at George Washington University.

The Board also elected the following individuals to serve one-year terms on NFA's Executive Committee: Bruce Cleland, Campbell and Company; George E. Crapple, The Millburn Corporation; W. Robert Felker; Christopher Hehmeyer, Goldenberg Hehmeyer and Co.; Douglas O. Kitchen, Rosenthal Collins Group LLC; Joseph J. O'Neill, New York Board of Trade; Todd E. Petzel; and John F. Sandner, Chicago Mercantile Exchange. Mr. Schaefer and NFA President Dan Roth also serve on the Executive Committee.

The following individuals were elected by their membership categories to serve two-year terms on the Board of Directors:

    Futures Commission Merchants: Gerald F. Corcoran, R. J. O'Brien & Associates; Scott A. Cordes, Country Hedging, Inc.; Thomas A. Kloet, Fimat USA Inc.; Michael R. Schaefer, Citigroup Global Markets Inc.
    Introducing Brokers: Paul J. Georgy, Allendale, Inc.
    Commodity Pool Operators and Commodity Trading Advisors: James R. Klingler, Eclipse Capital Management, Inc.; Robert E. Murray, Graham Capital Management LP.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.

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