Release: #4478 -00
For Release:     December 12, 2000

THE CFTC AND THE COMMODITIES' EXCHANGES
COMMISSION OF THE MINISTRY�
OF THE RUSSIAN FEDERATION
ANTI-MONOPOLY POLICY AND SUPPORT
OF ENTREPRENEURSHIP SIGN JOINT STATEMENT

Washington – The U.S. Commodity Futures Trading Commission (CFTC) and the Commodities' Exchanges Commission of the Ministry of the Russian Federation for Anti-Monopoly Policy and Support of Entrepreneurship (CEC), the Russian commodities regulator, signed a joint statement regarding cooperation, consultation and the provision of technical assistance (Joint Statement). The Joint Statement was signed in Washington Monday afternoon by CFTC Chairman William J. Rainer and Ilya Yuzhanov, Russian Minister of Anti-Monopoly and Support of Entrepreneurship, in a ceremony attended by U. S. Government officials, CEC officials and members of the Russian Duma, among others.

According to the Joint Statement, the CFTC and CEC desire to establish a mutually acceptable basis for cooperation, consultation and the provision of technical assistance. The CFTC and CEC share the goal of creating and maintaining open, fair, efficient and sound futures and options markets and recognize that the development of effective domestic legal and regulatory structures is essential to market integrity and investor protection.

In commenting on the CFTC's latest Joint Statement, CFTC Chairman Rainer stated "I believe that international cooperation can facilitate the development and effective operation of futures and options markets. This Joint Statement continues the CFTC's long tradition of cooperative arrangements with foreign futures authorities. The CFTC is pleased to offer practical assistance to the CEC."