Rule Submissions to the CFTC

January 20, 1998

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

Re: National Futures Association: Proposed Adoption of NFA Compliance Rule 2-35 and Its Interpretive Notice Concerning CPO/CTA Disclosure Documents

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 Compliance Rule 2-35 and its Interpretive Notice concerning CPO/CTA Disclosure Documents. The proposals contained herein were approved by NFA's Board of Directors ("Board") on November 20, 1997. NFA respectfully requests Commission review and approval of the proposals.

Proposed Adoption of NFA Compliance Rule 2-35

Proposed Adoption of Interpretive Notice to Rule 2-35

Explanation of Proposals

Respectfully submitted,

Daniel J. Roth
General Counsel

cc: Chairperson Brooksley Born
Commissioner Barbara Pedersen Holum
Commissioner John E. Tull, Jr.
Commissioner David D. Spears
Geoffrey Aronow, Esq.
I. Michael Greenberger, Esq.
Alan L. Seifert, Esq.
Lawrence B. Patent, Esq.
David Van Wagner, Esq.