(MS-23) TERMINATION OF AFFILIATION

Member Services
Notice No. MS-23
April 20, 2001

COMMODITY EXCHANGE, INC.

TERMINATION OF AFFILIATION

Please be advised that effective the close of business, April 20, 2001, Eric
Zuccarelli (ZUKE-7441) will no longer be affiliated with J & B Commodities.
However, Mr. Zuccarelli will remain a member guaranteed Pioneer Futures, Inc.

NOTICE OF INTENTION TO TRANSFER MEMBERSHIP

Notice of Intention to Transfer Membership has been posted on the bulletin
board of the Exchange by:

Steven DelGado (DLAS-6347)

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 April 20, 2001, must be submitted to
the Corporate Secretary's Office within ten (10) days.

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

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