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For Immediate Release
February 1, 2007

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

NFA settles enforcement action with Tradex Group LLC; orders the CTA to pay restitution to customers for soliciting forex trading accounts without being properly registered

February 1, Chicago - National Futures Association (NFA) has permanently barred from NFA membership, Tradex Group LLC (Tradex), a Commodity Trading Advisor located in Boston, Massachusetts. The Decision issued by an NFA Hearing Panel is based on a Complaint filed in June 2006 and a settlement offer submitted by Tradex.

The Complaint alleged that Tradex solicited retail customers to trade off-exchange foreign currency (forex) futures and options with its parent company, Tradex Handel & Beratungs AG (Tradex AG). The Commodity Exchange Act prohibits the offering of forex transactions to retail customers unless the counterparty is a regulated entity as explained in the Act. For the purposes of offering forex to retail customers, Tradex AG is not a counterparty specified in the Act.

The Hearing Panel ordered Tradex to pay $22,144.53 in restitution to their customers located in the United States, whose accounts were closed with a debit balance. In addition to the permanent bar, Tradex is prohibited from acting as a principal of any NFA Member.

The complete text of the Complaint and Decision can be found on NFA's Web site (

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