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For Immediate Release
February 18, 2011

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

NFA permanently bars Illinois firm Petra Trading Group LLC and bars its principal for three years

February 18, Chicago - National Futures Association (NFA) has permanently barred Petra Trading Group LLC (Petra) from NFA membership. Petra is an Introducing Broker located in St. Charles, Illinois. Martin J. Allamian, principal and associated person (AP) of Petra, is also barred from NFA membership for a period of three years. In the event that Allamian reapplies for NFA membership after his three-year bar he must pay a fine of $250,000. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in November 2008.

The Panel found that Petra failed to list Mark Ramos as a principal of the firm. Additionally, the Panel found that Petra and Allamian failed to supervise Petra's business as evidenced by the fact that they allowed Ramos, who was ineligible to act as principal of the firm, to function as Petra's CEO. They also assisted Last Atlantis Capital Management LLC (LACM), a former Commodity Trading Advisor and Commodity Pool Operator Member of NFA (see previous press release), in misleading pool participants about the value of their investment in Last Atlantis Partners LLC, a pool operated by LACM. Petra and Allamian overstated a receivable purportedly owed to the pool and failed to disclose the details of a subordinated loan that the pool made to Petra which was subsequently partly disbursed to Allamian's wife.

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

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