Release: #3988-97

For Release: January 28, 1997

CFTC Notifies the New York Cotton Exchange of the Results of Its Recent Review of the Exchange's Financial and Sales Practice Compliance Program

Washington -- The Commodity Futures Trading Commission's Division of Trading and Markets ("Division") has notified the New York Cotton Exchange ("NYCE") of the results of its recent review of the exchange's financial and sales practice compliance program.

The Division found that the NYCE program is in compliance with applicable regulatory requirements. The report contains four recommendations for enhancement of the program. The recommendations are technical in nature and had no impact on the actual execution of the program. NYCE has already implemented three of the recommendations and is currently planning the implementation of the fourth one.

A copy of the Division's report is available upon request through the Commission's Office of Public Affairs, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581.