Rule Submissions to the CFTC

November 29, 2005

Via Federal Express

Ms. Jean A. Webb
Secretariat
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, N.W.
Washington, DC 20581

Re: National Futures Association: Proposed Amendments to NFA Compliance Rule 2-7 and the Interpretive Notice Regarding Registration Requirements; Branch Offices*

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") proposed amendments to NFA Compliance Rule 2-7 and the Interpretive Notice regarding Registration Requirements; Branch Offices. These proposals were approved by NFA's Board of Directors ("Board") on November 17, 2005.

NFA is invoking the "ten-day" provision of Section 17(j) of the Commodity Exchange Act ("CEA") and will make these proposals effective ten days after receipt of this submission by the Commission unless the Commission notifies NFA within the ten-day period that the Commission has determined to review the proposals for approval.

PROPOSED RULE AMENDMENTS

EXPLANATION OF PROPOSALS

As mentioned earlier, NFA is invoking the "ten-day" provision of Section 17(j) of the Commodity Exchange Act. NFA intends to make the amendments to NFA Compliance Rule 2-7 and the Interpretive Notice regarding Registration Requirements; Branch Offices 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.

Respectfully submitted,
Thomas W. Sexton
Vice President and General Counsel