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ELECTRONIC CROSS-EXCHANGE TRADING TOBEGIN ON GLOBEX(R) BETWEEN CME AND MATIF

 CHICAGO, June 30 /PRNewswire/ -- Cross-exchange trading between market participants on the GLOBEX(R) electronic trading system at the Chicago Mercantile Exchange (CME) and the Marche a Terme International de France (MATIF) is set to begin Thursday, July 1.
 Jack Sandner, chairman of the CME, and Gerard Pfauwadel, chairman of the MATIF, said the cross-exchange arrangement between the CME and the MATIF will enable members of each exchange to enter and trade both customer and proprietary orders directly through GLOBEX terminals for products listed on the other exchange.
 As many as 12 members will be ready on or shortly after July 1 to trade either CME products or MATIF products on a cross-exchange basis. An additional 12 firms are in the process of filing an application with the respective exchanges for such approval.
 "Cross exchange trading is the next logical step in the internationalization of GLOBEX," said Sandner, who is also chairman of the GLOBEX joint venture. "The customers and members of the CME and the MATIF will find great value in having more direct access to the products of each exchange. We deeply appreciate the MATIF's strong support of GLOBEX."
 "The MATIF has been very pleased to contribute to the success of GLOBEX and we believe the extension of cross-exchange trading will increase the liquidity on the system as a whole," said Pfauwadel.
 GLOBEX, a joint venture of the CME and the Chicago Board of Trade utilizing the Reuters network, was launched in June 1992. MATIF products began trading in March 1993. GLOBEX has been averaging approximately 20,000 trades per day during the month of June.
 -0- 6/30/93
 /CONTACT: Andrew Yemma of CME, 312-930-3434; or Patrick Rouast of MATIF, 331-4028-8190/


CO: Chicago Mercantile Exchange ST: Illinois IN: FIN SU:

SM -- NY072 -- 7309 06/30/93 16:09 EDT
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Date:Jun 30, 1993
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