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September 03, 2004
Via Federal Express
Ms. Jean A. Webb
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, N.W.
Washington, DC 20581
Re: National Futures Association: Proposed Adoption of NFA Bylaw 1508 Regarding Security Futures Agreements*
Dear Ms. Webb:
Pursuant to Section 17(j) of the Commodity Exchange Act, as amended, National Futures Association ("NFA") hereby submits to the Commodity Futures Trading Commission ("CFTC" or "Commission") the proposed adoption of NFA Bylaw 1508. This proposal was approved by NFA's Board of Directors ("Board") on August 19, 2004.
NFA is invoking the "ten-day" provision of Section 17(j) of the Commodity Exchange Act ("CEA") and will make this proposal effective ten days after receipt of this submission by the Commission unless the Commission notifies NFA that the Commission has determined to review the proposal for approval.
Thomas W. Sexton
Vice President and General Counsel
cc: Lawrence B. Patent
* The proposed adoption of NFA Bylaw 1508 became effective on September 17, 2004.