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November 21, 2006

Via Federal Express

Ms. Eileen A. Donovan
Office of the Secretariat
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, N.W.
Washington, DC 20581

Re: National Futures Association: Proposed Amendments to NFA Financial Requirements Section 2 Regarding the Eligibility to Guarantee IBs

Dear Ms. Donovan:

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 Financial Requirements Section 2 regarding the eligibility to guarantee IBs. This proposal was approved by NFA's Board of Directors ("Board") on November 16, 2006.

PROPOSED RULE AMENDMENTS

EXPLANATION OF PROPOSALS

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 that the Commission has determined to review the proposals for approval.

Respectfully submitted,

Thomas W. Sexton
Vice President and General Counsel


* The proposed amendments to NFA Financial Requirements Section 2 Regarding the Eligibility to Guarantee IBs become effective December 4, 2006.

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