Release:                  #4277-99
For Release:           June 7, 1999

Commodity Futures Trading Commission Provides Guidance to Commission Registrants Regarding Contingency Planning for Y2K

Washington, D.C. The Commission, on June 7, 1999, issued an advisory to provide certain Commission registrants (i.e., futures commission merchants, introducing brokers, commodity pool operators and commodity trading advisors) with guidance concerning their need to make appropriate plans to address business continuity issues that may arise during the transition to the new millennium. Toward that end, the advisory sets out important issues that should be considered when constructing such a plan.

The Commission recognizes that these plans will be subject to ongoing modification, as appropriate, leading up to the millennium change and that each plan will vary in form and content to reflect the unique circumstances of a particular registrant. Nonetheless, beginning on September 1, 1999, each such registrant must have a plan that can be made available to the Commission or the registrant's designated self-regulatory organization upon request.

The advisory is posted on the Commission's home page (www.cftc.gov). Copies of the advisory may be obtained by contacting the Office of Secretariat, Three Lafayette Center, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5100.