Notice No. CMS-20
February 6, 2002




        COMMODITY EXCHANGE, INC.

NOTICE OF INTENTION TO TRANSFER MEMBERSHIP

Notice of Intention to Transfer Membership has been posted on the bulletin
board of the Exchange by:

Michael Cardelfe (MFC-4983)


In connection therewith, notification of any claims against the
aforementioned individual arising out of transactions executed on the
Exchange up to the close of business on February 6, 2002, must be submitted
to the Corporate Secretary's Office within ten (10) days.

Inquiries regarding the above should be directed to the Member Services
Department at (212) 299-2377.