VOLUME 20 - BULLETIN #4

TO:	ALL CLEARING MEMBERS
FROM:	BUSINESS SYSTEMS GROUP
DATE:	January 4, 2000
SUBJECT:	Cash Settlement of December 30 Day Fed Funds

The December 1999 30-Day Fed Fund contract did not properly cash settle on the trade registers dated 1/3/00. The cash settlement price of the contract was updated to 94.705 resulting in correct pay/collect values. However, the open positions were not offset.

BOTCC will offset these positions at 94.705 on the registers dated 1/4/00. This will not result in any pay/collect values.

Should you have any questions, please call or e-mail one of the following Business Systems Analysts: