UNITED STATES OF AMERICA
Before the
COMMODITY FUTURES TRADING COMMISSION

In the Matter of:

NEW YORK FOREX EX-center
CORPORATION, PETER T. LAI, AND
ANDREW SCUDIERO

CFTC Docket No. 97-5

ORDER of SUMMARY AFFIRMANCE

Our review of the record and the parties' appellate submissions establishes that the findings and conclusions of the presiding officer are supported by the weight of the evidence; we therefore adopt them. We further conclude that the presiding officer committed no error material to the outcome of this proceeding and that the parties have not raised important questions of law or policy meriting extended discussion. Accordingly, we affirm the result of the initial decision without opinion.

IT IS SO ORDERED.1

By the Commission (Chairperson BORN and Commissioners TULL, HOLUM, SPEARS and NEWSOME).

________________________________
Jean A. Webb
Secretary of the Commission
Commodity Futures Trading Commission
Dated: January 12, 1999

_________________________________________________________________________________________

1 Any motion to stay the effect of this decision pending reconsideration by the Commission or notice of appeal seeking review by the relevant United States Court of Appeals must be filed within 15 days of the date this order is served. See Section 6(c) of the Act, 7 U.S.C.9 (1994) and Commission Rule 10.106, 17 C.F.R. 10.106 (1998).