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To: Glenn D. Rudolph who wrote (74169)	8/16/1999 10:07:00 PM
From: Eric Wells	Respond to of 164684

Protecting against a FTSE fall - while listening to MarketPlace on National Public Radio this afternoon, I caught the end of a story about an investor that has taken a large position to protect against a fall in the FTSE. I went to MarketPlace's web site to try to find out more information, but the paragraph below is the only information I was able to find. While the paragraph lists the activity as a "$1.2 billion derivatives trade" I believe it actually is the purchase of an option worth several million dollars that will be worth $1.2 billion if the FTSE falls more than 25% (this much I caught from the radio broadcast). From marketplace.org =========================== Betting Against the Footsie An unknown investor is preparing for a crash of London's stock market, the FTSE 100. Marketplace host David Brancaccio talks with Los Angeles Times business writer Tom Petruno about how the mystery investor is trying to protect himself with a $1.2 billion derivatives trade =========================== -Eric