Notice No. CMS-25
February 21, 2002

COMMODITY EXCHANGE, INC.

SWITCH OF GUARANTEE


Please be advised that effective immediately, February 21, 2002, William
Bradt (BIGE-982) will no longer be guaranteed by Man International, Inc.
However, Mr. Bradt will remain a member guaranteed by FC Stone, LLC.

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 21, 2002, must be submitted
to the Corporate Secretary's Office within the (10) days.

Inquiries regarding the above should be directed to the Member Services
Department at 212-299-2370.