The CFTC adopted its regulatory reform proposal today providing legal relief 
for bilateral and multilateral transactions.  We will be getting you a memo 
on the release next week.
For your information, the CFTC has approved the final rules which implement a 
new regulatory framework for futures markets.

The CFTC press release is located here:
http://www.cftc.gov/opa/press00/4475-00.htm

The final Regulatory Reform Rules are located here:
http://www.cftc.gov/opa/regulatory.htm

If you have any questions, please call John Damgard or Barbara Wierzynski.
Thank you,
Bernadine Bishop



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