John Roe is a candidate for the Board of the National Futures Association representing CTAs and CPOs. He is running on a platform along with James Koutoulas for the Board. I endorsed their competition, Doug Bry and Ernest Jaffarian, who, like Koutoulas and Roe, are current members of the NFA Board representing CTAs and CPOs.

Roe has written this rebuttal to my endorsement and posted it on the web site of the Commodity Customer Coalition, a group he and Koutoulas created during the MF Global bankruptcy to represent the interests of some customers.

Here is the beginning of Roe’s response and a link to the rest of the post on the website.

NFA Election: a Response to John Lothian

By John Roe

If you are registered as a CTA or CPO with the NFA, you may have recently received an opinion piece in your inbox from John Lothian News, even if you are not a subscriber.  I know because I received this note as well, although I am not a subscriber and strangely received it at an email address which is registered almost exclusively with the NFA.  Mr. Lothian has called into question my motives, accomplishments and character, as well as that of fellow CCC co-founder James Koutoulas.  I have reached out to Mr. Lothian and he has been kind enough to agree to allow me to post a rebuttal to his editorial.  If only to correct the record, let’s address his issues one by one.

First, while Mr. Lothian is entitled to his opinion and to endorse whomever he chooses, I believe the substance of his editorial is a distraction from the central issue of this election.  This election is about who is best suited to represent smaller and emerging CTAs and CPOs, who are the vast majority of NFA Member firms.   It is not about who can lay claim to an accomplishment or who someone thinks is worthy of trust.  If Mr. Lothian gets his way, CTAs and CPOs will only be represented by their largest competitors–firms with hundreds of millions and billions of dollars under management.  We think small and emerging firms need representation too.  It’s why I petitioned to be on the ballot for the seat I won last year for a two year term.

For the rest of Roe’s post, go here.

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