New NFA members make waves

The two newest members of the National Futures Association proposed that the NFA work with futures exchanges, clearing houses and futures commission merchants to find a way to make former MF Global customers whole.

The two new members, Ernest Jaffarian, CEO of Warrenville-based Efficient Capital Management LLC, and Douglas Bry, president of Denver-based Northfield Trading LP, made the recommendation, which included potentially tapping into NFA fees charged to customers, to the NFA board according to a story in Crain’s.

Jaffarian stated, following his election, that the NFA need to be more aggressive in the MF Global matter.

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