Release:                     #4322-99
For Release:              October 5, 1999

CFTC Seeks Public Comment on the Cantor Financial Futures Exchange's Proposal to Establish Block Trading Procedures

Washington -- The Commodity Futures Trading Commission (Commission) has issued a Notice seeking public comment on a proposal by the Cantor Financial Futures Exchange (CX or Exchange) to establish block trading procedures.

Under these procedures, qualified market participants would be allowed to negotiate and arrange futures transactions of a minimum size bilaterally away from the centralized, competitive market. Once the specific terms of the block transaction had been agreed to, the counterparties would report the relevant details of the transaction to CX for clearing and settlement.

The Commission is seeking comment on all aspects of the Exchange's proposal. The Commission expects the Notice to be published in the Federal Register shortly and has provided a 15-day comment period. Copies of the Notice and the Exchange's proposal may be obtained by contacting the Office of the Secretariat, Three Lafayette Centre, 1155 21st Street, N.W., Washington, D.C. 20581, (202) 418-5100.