Electronic vs. Floor Trading (Futures/Options - long)

[BrewsPad@xxxxxxx]

This is a long blurb regarding an upcoming debate on electronic trading.  I
was of the opionion that the CFTC had mandated a move to electronic trading
for futures markets - which would eliminate all sorts of games played by floor
traders.

Jim

Exchange Leaders To Debate Electronic v. Floor Trading At MFA Conference In
Chicago June 25

     WASHINGTON--(BUSINESS WIRE)--June 18, 1998--In a ground-breaking debate,
CEO's and senior officials from the world's largest futures and options
exchanges, the CFTC, and world-class trading firms are getting together to
predict the future of floor trading v. screen trading and the potential
effects on global futures and options markets.

     The debate will unfold at Forum 98: The Forum for Managed Futures and
Hedge Funds on June 25, from 3:45 until 5:15 p.m., in the Crystal Room, at
Chicago's Fairmont Hotel, 200 North Columbus Drive.

     Forum 98, presented by the Managed Funds Association (MFA), will take
place over three days, June 23-25, as over 700 professionals representing
hedge funds, managed futures, and funds of funds gather for the fifth annual
conference.

     Confirmed participants in the trading debate include: I. Michael
Greenberger, director of the Division of Trading & Markets, Commodity Futures
Trading Commission (CFTC); Charles J. Henry, president and COO, Chicago Board
Options Exchange (CBOE); Daniel Hodson, CEO, London International Financial
Futures & Options Exchange (LIFFE); Richard Jaycobs, director of business
development, Computer Trading Corporation; T. Eric Kilcollin, president and
CEO, Chicago Mercantile Exchange (CME); Gordon Linn, director, Chicago Board
of Trade (CBOT); Joseph O'Neill, president, New York Board of Trade (NYBOT);
and Neal Wolkoff, executive vice president, New York Mercantile Exchange.

     Susan Sjo, chief executive officer of Sjo, Inc., and an MFA director,
will moderate the debate titled, The Direction of Electronic Trading: How Will
the Proliferation of Electronic Trading and the Shift Away From Floor Trading
Change the Way We Do Business?

     MFA is the Association for investment professionals in futures, hedge
funds, and other alternative investments.  MFA has almost 700 members and,
since its inception in 1991, provides industry leadership in government
relations, communications, and public relations.  The objective of MFA is to
enhance the image and understanding of the industry, to further constructive
dialogue with the regulators in pursuit of regulatory reform, and to improve
the communications with, and training of, its members through effective
conferences and communications programs.

For further information call: John G. Gaine, MFA President, 202/828-6040

Schedule of events & press passes available. Press briefing: 9 a.m. on June 23
in the Ambassador Room.

     --30--emb/ny*             fb

CONTACT: 

John G. Gaine, MFA President

202/828-6040

or

Bode & Associates

Meg Bode

Tel: 516/869-6610

Fax: 516/869-6611