Release:        #4292-99
For Release: July 23, 1999

Statement of I. Michael Greenberger, Director,
Division of Trading and Markets

Washington, D.C. -- The process for the Division of Trading and Markets to review the applications by foreign exchanges for placement of screen based terminals in the U.S. will be as follows:

Because of their special circumstances, the following four exchanges will be reviewed and finalized for possible no-action letters by the Division as soon as possible but no later than within the next 21 days, barring unforeseen circumstances and assuming cooperation of the exchange:


Thereafter, applications will be processed on a first in, first out basis to the extent practicable.