US FUTURES EXCHANGES EAGER TO SPREAD GLOBALLY

US FUTURES EXCHANGES EAGER TO SPREAD GLOBALLY

The extraordinary events in Eastern Europe are opening doors for U.S.-style futures trading.

Futures industry leaders attending the 15th annual Futures Indus- try Association conference here said they are forging ahead with plans to get a ''piece of the action."As Eastern European governments restructure themselves - and that includes the Soviet Union - exchange officials said they hoped to engage in dialogue with these countries on possible futures market cooperation in the near future.

Both the Chicago Mercantile Exchange and the Chicago Board of Trade said they are seriously pursuing means of taking advantage of the political and economic climates in Eastern Europe.

Andrew Yemma, a CME spokesman said "these plans will be part of an overall agenda (in the 1990s) for the exchange."

CME executives are discussing this and other "blueprints" for the 1990s with industry leaders at the FIA meeting.

The CBT also said it is working with other governments, in particular China, Taiwan and the Soviet Union, to facilitate international trading.

Karsten Mahlmann, CBT chairman, said "we are making efforts to establish futures trading between the exchanges and those countries."

He said the exchange is excited about the prospects of opening futures trading with the Soviet Union and a study is currently under way.

Globalization also means linking futures traders with each other as well as the rest of the world, said David Ganis, FIA chairman.

Mr. Ganis said the United States is in the forefront of global automation like the CME's Globex and CBT's Aurora computerized trading systems.

"Our markets are expanding and our clients are dealing in multiple markets at the same time opportunities are opening up for globalization."

Industry leaders believe that the opportunities for internationalization of futures are great, but so are the problems.

Harmonizing the different regulations of countries having futures markets remains a problem yet to be solved.

International regulators have met on several occasions to discuss and formulate standards for trading.

A group of foreign regulators met here Wednesday to work on harmonizing regulation that would smooth the way to a greater global participation in the futures markets.