Senator Gramm met with the Chicago Futures Exchanges today.  Tom Ewing also
attended today's meeting. Topics of dicussion included: (no new issues)
identified bank product exclusions; agency transactions; credit screen
exclusion; and retail.  Gramm staff agreed to provide language to the
futures exchanges.  The Senator indicated he would discuss Title III  and
agency transactions and retail with the Treasury Department tomorrow.

Stacy Carey
Director North American Regulatory Policy
International Swaps and Derivatives Association
(202) 457-6545 ph
(703) 256-1833 fax
(917) 543-9622 cell
scarey@isda.org