Rule Submissions to the CFTC

November 21, 2000

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 Amendments to NFA Bylaws 514, 708(b) and 1303 and Compliance Rule 2-29(c)(6)*

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 Bylaws 514, 708(b) and 1303 and Compliance Rule 2-29(c)(6). The proposed amendments were approved by NFA's Board of Directors ("Board") on November 16, 2000.

NFA intends to make the proposed amendments to NFA Bylaws 514 and 708(b) and Compliance Rule 2-29(c)(6) effective 10 days after receipt of this submission by the Commission unless the Commission notifies NFA within the 10-day period that the Commission has determined to review the amendments for approval. NFA is also invoking the 10-day provision with respect to NFA Bylaw 1303, however NFA would intend to make the proposed amendments effective on January 1, 2001.

Proposed Amendments to NFA Bylaws 514, 708(b) and Compliance Rule 2-29(c)(6)

Proposed Amendments to NFA Bylaw 1303

Explanation of Proposed Amendments

As mentioned earlier, NFA intends to make the proposed amendments to NFA Bylaws 514 and 708(b) and Compliance Rule 2-29(c)(6) 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 amendments for approval. NFA is also invoking the ten-day provision with respect to NFA Bylaw 1303, however NFA would intend to make the proposed amendments effective on January 1, 2001.

Respectfully submitted,

Daniel J. Roth
Executive Vice President and General Counsel

cc: Chairman William J. Rainer
Commissioner Barbara Pedersen Holum
Commissioner David D. Spears
Commissioner James E. Newsome
Commissioner Thomas J. Erickson
Phyllis J. Cela, Esq.
John C. Lawton, Esq.
Alan L. Seifert, Esq.
David Van Wagner, Esq.
Riva Spear Adriance, Esq.