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February 23, 2007

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 Adoption of NFA Financial Requirements Section 14 Regarding Assets Covering Liability to Retail Forex Customers and Amendments to the Interpretive Notice Regarding Forex Transactions*

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 adoption of NFA Financial Requirements Section 14 regarding assets covering liability to retail forex customers and amendments to the Interpretive Notice regarding Forex Transactions. This proposal was approved by NFA's Board of Directors ("Board") on February 15, 2007. NFA respectfully requests Commission review and approval of the proposed amendments.

PROPOSED RULE AMENDMENTS

EXPLANATION OF PROPOSALS

NFA respectfully requests that the Commission review and approve the proposed adoption of NFA Financial Requirements Section 14 regarding assets covering liability to retail forex customers and amendments to the Interpretive Notice regarding Forex Transactions.

Respectfully submitted,

Thomas W. Sexton
Vice President and General Counsel


* The proposed Adoption of NFA Financial Requirements Section 14 Regarding Assets Covering Liability to Retail Forex Customers and Amendments to the Interpretive Notice Regarding Forex Transactions becomes effective on July 1, 2007.

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