<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
 
                                   FORM 10-Q
 
(Mark One)
 
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934
 
For the quarterly period ended June 26, 1998
 
                                       OR
 
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934
 
For the transition period from _______________________ to ______________________
 
Commission file number: 333-43041
 
                         WORLD MONITOR TRUST--SERIES B
--------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its charter)
 
Delaware                                            13-3985041
--------------------------------------------------------------------------------
(State or other jurisdiction              (I.R.S. Employer Identification No.)
 of incorporation or organization)
 
One New York Plaza, 13th Floor, New York, New York           10292
--------------------------------------------------------------------------------
(Address of principal executive offices)                   (Zip Code)
 
Registrant's telephone number, including area code (212) 778-7866
 
                                      N/A
--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report
 
   Indicate by check CK whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes _CK_  No __

<PAGE>
                         PART I. FINANCIAL INFORMATION
                          ITEM I. FINANCIAL STATEMENTS
                         WORLD MONITOR TRUST--SERIES B
                          (a Delaware Business Trust)
                       STATEMENTS OF FINANCIAL CONDITION
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                                         June 26,      December 31,
                                                                           1998            1997
<S>                                                                     <C>            <C>
---------------------------------------------------------------------------------------------------
ASSETS
Equity in commodity trading accounts:
Cash                                                                    $6,071,320       $  1,000
Net unrealized gain on open commodity positions                             51,239         --
                                                                        ----------     ------------
Net equity                                                               6,122,559          1,000
Accrued interest receivable                                                 14,961         --
                                                                        ----------     ------------
Total assets                                                            $6,137,520       $  1,000
                                                                        ----------     ------------
                                                                        ----------     ------------
LIABILITIES AND TRUST CAPITAL
Liabilities
Commissions payable                                                     $   20,357       $ --
Management fees payable                                                      5,432         --
                                                                        ----------     ------------
Total liabilities                                                           25,789         --
                                                                        ----------     ------------
Commitments
 
Trust capital
Limited interests (61,121.053 and -0- interests outstanding)             6,036,669         --
General interests (760 and 10 interests outstanding)                        75,062          1,000
                                                                        ----------     ------------
Total trust capital                                                      6,111,731          1,000
                                                                        ----------     ------------
Total liabilities and trust capital                                     $6,137,520       $  1,000
                                                                        ----------     ------------
                                                                        ----------     ------------
 
Net asset value per limited and general interests ('Interests')         $    98.77       $ 100.00
                                                                        ----------     ------------
                                                                        ----------     ------------
---------------------------------------------------------------------------------------------------
                 The accompanying notes are an integral part of these statements.
</TABLE>
                                       2
<PAGE>
                         WORLD MONITOR TRUST--SERIES B
                          (a Delaware Business Trust)
                            STATEMENT OF OPERATIONS
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                                                 For the period
                                                                                      from
                                                                                  June 10, 1998
                                                                                (commencement of
                                                                                   operations)
                                                                                     through
                                                                                  June 26, 1998
<S>                                                                             <C>
-------------------------------------------------------------------------------------------------
REVENUES
Net realized loss on commodity transactions                                        $  (102,775)
Net unrealized gain on open commodity positions                                         51,239
Interest income                                                                         14,961
                                                                                -----------------
                                                                                       (36,575)
                                                                                -----------------
 
EXPENSES
Commissions                                                                             21,051
Management fees                                                                          5,432
                                                                                -----------------
                                                                                        26,483
                                                                                -----------------
Net loss                                                                           $   (63,058)
                                                                                -----------------
                                                                                -----------------
ALLOCATION OF NET LOSS
Limited interests                                                                  $   (62,120)
                                                                                -----------------
                                                                                -----------------
General interests                                                                  $      (938)
                                                                                -----------------
                                                                                -----------------
NET LOSS PER WEIGHTED AVERAGE LIMITED AND GENERAL INTEREST
Net loss per weighted average limited and general interest                         $     (1.07)
                                                                                -----------------
                                                                                -----------------
Weighted average number of limited and general interests outstanding                58,687.637
                                                                                -----------------
                                                                                -----------------
-------------------------------------------------------------------------------------------------
</TABLE>
                     STATEMENT OF CHANGES IN TRUST CAPITAL
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                               LIMITED        GENERAL
                                               INTERESTS      INTERESTS      INTERESTS       TOTAL
<S>                                           <C>             <C>            <C>           <C>
-----------------------------------------------------------------------------------------------------
Trust capital--December 31, 1997                   10.000     $   --          $ 1,000      $    1,000
Contributions                                  61,871.053      6,098,789       75,000       6,173,789
Net loss                                          --             (62,120)        (938)        (63,058)
                                              -----------     ----------     ---------     ----------
Trust capital--June 26, 1998                   61,881.053     $6,036,669      $75,062      $6,111,731
                                              -----------     ----------     ---------     ----------
                                              -----------     ----------     ---------     ----------
-----------------------------------------------------------------------------------------------------
                  The accompanying notes are an integral part of these statements.
</TABLE>
                                       3
<PAGE>
                         WORLD MONITOR TRUST--SERIES B
                          (a Delaware Business Trust)
                         NOTES TO FINANCIAL STATEMENTS
                                 JUNE 26, 1998
                                  (Unaudited)
 
A. General
 
The Trust, Trustee, Managing Owner and Affiliates
 
   World Monitor Trust (the 'Trust') is a business trust organized under the
laws of Delaware on December 17, 1997. The Trust commenced trading operations on
June 10, 1998 and will terminate on December 31, 2047 unless terminated sooner
as provided in the Second Amended and Restated Declaration of Trust and Trust
Agreement. The Trust was formed to engage in the speculative trading of a
diversified portfolio of futures, forward and options contracts and may, from
time to time, engage in cash and spot transactions. The trustee of the Trust is
Wilmington Trust Company. The managing owner is Prudential Securities Futures
Management Inc. (the 'Managing Owner'), a wholly owned subsidiary of Prudential
Securities Incorporated ('PSI') which, in turn, is a wholly owned subsidiary of
Prudential Securities Group Inc. PSI is the selling agent for the Trust as well
as the commodity broker ('Commodity Broker') of the Trust.
 
The Offering
 
   Beneficial interests in the Trust ('Interests') are being offered pursuant to
Rule 415 of Regulation C under the Securities Act of 1933 in three separate and
distinct series ('Series'): Series A, B and C. The assets of each Series are
segregated from the other Series, separately valued and independently managed.
 
   Up to $100,000,000 of Interests ('Subscription Maximum'), $34,000,000 for
Series A and $33,000,000 each for Series B and C, are being offered to investors
who meet certain established suitability standards, with a minimum initial
subscription of $5,000 per subscriber or, for any investment made on behalf of
an individual retirement account, the minimum initial subscription is $2,000. A
subscriber may purchase Interests in any one or a combination of Series although
the minimum purchase for any single Series is $1,000. On June 10, 1998, Series B
completed its initial offering with gross proceeds of $5,709,093 from the sale
of 56,330.929 limited interests and 760 general interests.
 
   Thereafter, or until the Subscription Maximum for each Series is sold
('Continuous Offering Period'), each Series' Interests will continue to be
offered on a weekly basis at the net asset value per Interest. Additional
purchases may be made in $100 increments.
 
   The Managing Owner is required to maintain at least a one percent interest in
the capital, profits and losses of each Series so long as it is acting as the
Managing Owner, and it will make such contributions (and in return will receive
such general interests) as are necessary to effect this requirement.
 
The Trading Advisor
 
   Each Series has its own professional commodity trading advisor that makes
that Series' trading decisions. The Managing Owner, on behalf of the Trust,
entered into an advisory agreement with Eclipse Capital Management, Inc.
('Trading Advisor') to make the trading decisions for Series B. The advisory
agreement may be terminated at the discretion of the Managing Owner. The
Managing Owner has allocated one hundred percent of the proceeds from the
initial and continuous offering of Series B to the Trading Advisor and it is
currently contemplated that the Trading Advisor will continue to be allocated
one hundred percent of additional capital raised for Series B during the
continuous offering of its Interests.
 
Exchanges, Redemptions and Termination
 
   Interests owned in one Series may be exchanged, without any charge, for
Interests of one or more other Series on a weekly basis for as long as Interests
in those Series are being offered to the public. Exchanges are made at the
applicable Series' then current net asset value per Interest as of the close of
business on the Friday immediately preceding the week in which the exchange
request is effected. The exchange of Interests is treated as a redemption of
Interests in one Series (with the related tax consequences) and the simultaneous
purchase of Interests in the Series exchanged into.
 
   Redemptions are permitted on a weekly basis. Interests redeemed on or before
the end of the first and second successive six-month periods after their
effective dates are subject to a redemption fee of four
 
                                       4
<PAGE>
percent and three percent, respectively, of the net asset value at which they
are redeemed. Redemption fees are paid to the Managing Owner.
 
   In the event that the estimated net asset value per Interest of a Series at
the end of any business day, after adjustments for distributions, declines by
fifty percent or more since the commencement of trading activities or the first
day of a fiscal year, the Series will terminate.
 
   These financial statements have been prepared without audit. In the opinion
of management, the financial statements contain all adjustments (consisting of
only normal recurring adjustments) necessary to present fairly the financial
position of Series B as of June 26, 1998 and the results of its operations for
the period from June 10, 1998 (commencement of operations) through June 26,
1998. However, the operating results for the interim period may not be
indicative of the results expected for the full year.
 
B. Summary of Significant Accounting Policies
 
Basis of accounting
 
   The books and records of Series B are maintained on the accrual basis of
accounting in accordance with generally accepted accounting principles.
 
Income taxes
 
   Series B is not required to provide for, or pay, any federal or state income
taxes. Income tax attributes that arise from its operations are passed directly
to the individual owners including the Managing Owner. Series B may be subject
to other state and local taxes in jurisdictions in which it operates.
 
Profit and loss allocations and distributions
 
   Series B allocates profits and losses for both financial and tax reporting
purposes to its owners weekly on a pro rata basis based on each owner's
Interests outstanding during the week. Distributions may be made at the sole
discretion of the Managing Owner on a pro rata basis in accordance with the
respective capital balances of the owners; however, the Managing Owner does not
presently intend to make any distributions.
 
C. Fees
 
Organizational, offering, general and administrative costs
 
   PSI or its affiliates pay the costs of organizing Series B and offering its
Interests as well as administrative costs incurred by the Managing Owner or its
affiliates for services it performs for Series B. These costs include, but are
not limited to, those discussed in Note D below. Routine legal, audit, postage
and other routine third party administrative costs also are paid by PSI or its
affiliates.
 
Management and incentive fees
 
   Series B pays its Trading Advisor a management fee at an annual rate of two
percent of Series B's net asset value allocated to its management. The
management fee is determined weekly and the sum of such weekly amounts is paid
monthly. Series B also pays its Trading Advisor a quarterly incentive fee equal
to twenty percent of such Trading Advisor's 'New High Net Trading Profits' (as
defined in the advisory agreement). The incentive fee also accrues weekly.
 
Commissions
 
   The Managing Owner and the Trust entered into a brokerage agreement (the
'Brokerage Agreement') with PSI to act as Commodity Broker for each Series
whereby Series B pays a fixed fee for brokerage services rendered at an annual
rate of 7.75% of Series B's net asset value. The fee is determined weekly and
the sum of such weekly amounts is paid monthly. From this fee, PSI pays
execution costs (i.e., floor brokerage expenses, give-up charges and NFA,
clearing and exchange fees), as well as compensation to employees who sell
Interests.
 
D. Related Parties
 
   The Managing Owner or its affiliates perform services for Series B which
include but are not limited to: brokerage services, accounting and financial
management, investor communications, printing and other administrative services.
As further described in Note C, PSI or its affiliates pay the costs of these
services in addition to costs of organizing the Trust and offering its Interests
as well as the routine operational, administrative, legal and auditing fees.
 
                                       5
<PAGE>
   All of the proceeds of this offering of Series B are received in the name of
Series B and deposited and maintained in cash in segregated trading accounts
maintained for Series B at PSI. Except for that portion of Series B's assets
that is deposited as margin to maintain forward currency contract positions as
further discussed below, its assets are maintained either on deposit with PSI
or, for margin purposes, with the various exchanges on which Series B is
permitted to trade. PSI credits Series B monthly with one hundred percent of the
interest earned on the average net assets on deposit at PSI.
 
   Series B, acting through its Trading Advisor, may execute over-the-counter,
spot, forward and/or option foreign exchange transactions with PSI. PSI then
engages in back-to-back trading with an affiliate, Prudential-Bache Global
Markets Inc. ('PBGM'). PBGM attempts to earn a profit on such transactions. PBGM
keeps its prices on foreign currency competitive with other interbank currency
trading desks. All over-the-counter currency transactions are conducted between
PSI and each Series pursuant to a line of credit. PSI may require that
collateral be posted against the marked-to-market position of Series B.
 
   As of June 26, 1998, a non-U.S. affiliate of the Managing Owner owns 101.245
limited interests of Series B.
 
E. Credit and Market Risk
 
   Since Series B's business is to trade futures, forward (including foreign
exchange transactions) and options contracts, its capital is at risk due to
changes in the value of these contracts (market risk) or the inability of
counterparties to perform under the terms of the contracts (credit risk).
 
   Futures, forward and options contracts involve varying degrees of off-balance
sheet risk; and changes in the level of volatility of interest rates, foreign
currency exchange rates or the market values of the contracts (or commodities
underlying the contracts) frequently result in changes in unrealized gain (loss)
on open commodity positions reflected in the statements of financial condition.
Series B's exposure to market risk is influenced by a number of factors
including the relationships among the contracts held by Series B as well as the
liquidity of the markets in which the contracts are traded.
 
   Futures and options contracts are traded on organized exchanges and are thus
distinguished from forward contracts which are entered into privately by the
parties. The credit risks associated with futures and options contracts are
typically perceived to be less than those associated with forward contracts
because exchanges typically provide clearinghouse arrangements in which the
collective credit (subject to certain limitations) of the members of the
exchanges is pledged to support the financial integrity of the exchange. On the
other hand, Series B must rely solely on the credit of its broker (PSI) with
respect to forward transactions. Series B presents unrealized gains and losses
on open forward positions, if any, as a net amount in the statements of
financial condition because it has a master netting agreement with PSI.
 
   The Managing Owner attempts to minimize both credit and market risks by
requiring the Trading Advisor to abide by various trading limitations and
policies. The Managing Owner monitors compliance with these trading limitations
and policies which include, but are not limited to, executing and clearing all
trades with creditworthy counterparties (currently, PSI is the sole counterparty
or broker); limiting the amount of margin or premium required for any one
commodity or all commodities combined; and generally limiting transactions to
contracts which are traded in sufficient volume to permit the taking and
liquidating of positions. The Managing Owner may impose additional restrictions
(through modifications of such trading limitations and policies) upon the
trading activities of the Trading Advisor as it, in good faith, deems to be in
the best interests of Series B.
 
   PSI, when acting as the futures commission merchant in accepting orders for
the purchase or sale of domestic futures and options contracts, is required by
Commodity Futures Trading Commission ('CFTC') regulations to separately account
for and segregate as belonging to Series B all assets of Series B relating to
domestic futures and options trading and is not to commingle such assets with
other assets of PSI. At June 26, 1998, such segregated assets totalled
$1,282,304. Part 30.7 of the CFTC regulations also requires PSI to secure assets
of Series B related to foreign futures and options trading which totalled
$4,840,255 at June 26, 1998. There are no segregation requirements for assets
related to forward trading.
 
   As of June 26, 1998, all open futures contracts mature within six months.
 
                                       6
<PAGE>
   As of June 26, 1998, gross contract amounts of open futures contracts for
Series B are:
 
Financial Futures Contracts:
  Commitments to purchase             $55,023,439
  Commitments to sell                  33,489,126
Currency Futures Contracts:
  Commitments to purchase               3,258,574
  Commitments to sell                   4,036,038
Other Futures Contracts:
  Commitments to purchase                 192,400
  Commitments to sell                   1,164,438
 
   The gross contract amounts represent Series B's potential involvement in a
particular class of financial instrument (if it were to take or make delivery on
an underlying futures contract). The gross contract amounts significantly exceed
the future cash requirements as Series B intends to close out open positions
prior to settlement and thus is generally subject only to the risk of loss
arising from the change in the value of the contracts. As such, Series B
considers the 'fair value' of its futures contracts to be the net unrealized
gain or loss on the contracts. Thus, the amount at risk associated with
counterparty nonperformance of all contracts is the net unrealized gain included
in the statements of financial condition. The market risk associated with Series
B's commitments to purchase commodities is limited to the gross contract amounts
involved, while the market risk associated with its commitments to sell is
unlimited since its potential involvement is to make delivery of an underlying
commodity at the contract price; therefore, it must repurchase the contract at
prevailing market prices.
 
   The following table presents the fair value of futures contracts at June 26,
1998, and also presents their average fair value, and trading revenues for the
period from June 10, 1998 (the commencement of operations) through June 26,
1998.
 
<TABLE>
<CAPTION>
                                   Fair Value              Average Fair Value
                             -----------------------     -----------------------         Trading
                             Assets      Liabilities     Assets      Liabilities         Revenues
                             -------     -----------     -------     -----------     ----------------
<S>                          <C>         <C>             <C>         <C>             <C>
Domestic exchanges
  Financial                  $ 8,438      $       --     $ 9,250      $       --         $ (7,112)
  Currencies                  49,769          (2,413)     44,926          (7,735)          47,518
  Other                        1,440          (2,520)     11,137          (5,840)         (47,250)
Foreign exchanges
  Financial                   29,444         (31,413)     18,640         (31,909)         (43,186)
  Other                        2,344          (3,850)      3,406          (5,750)          (1,506)
                             -------     -----------     -------     -----------     ----------------
                             $91,435      $  (40,196)    $87,359      $  (51,234)        $(51,536)
                             -------     -----------     -------     -----------     ----------------
                             -------     -----------     -------     -----------     ----------------
</TABLE>
                                       7
<PAGE>
                         WORLD MONITOR TRUST--SERIES B
                          (a Delaware Business Trust)
           ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                      CONDITION AND RESULTS OF OPERATIONS
 
Liquidity and Capital Resources
 
   Series B commenced operations on June 10, 1998 with gross proceeds of
$5,709,093 allocated to commodities trading. Additional contributions raised
through the continuous offering for the period June 10, 1998 (the commencement
of operations) through June 26, 1998 resulted in additional gross proceeds to
Series B of $465,696. Additional Interests of Series B will continue to be
offered on a weekly basis at the net asset value per Interest until the
Subscription Maximum of $33,000,000 is sold.
 
   At June 26, 1998, 100% of Series B's net assets were allocated to commodity
trading. A significant portion of the net assets was held in cash which is used
as margin for Series B's trading in commodities. Inasmuch as the sole business
of Series B is to trade in commodities, Series B continues to own such liquid
assets to be used as margin. PSI credits Series B monthly with 100% of the
interest it earns on the average net assets in Series B's accounts.
 
   The commodities contracts are subject to periods of illiquidity because of
market conditions, regulatory considerations and other reasons. For example,
commodity exchanges limit fluctuations in certain commodity futures contract
prices during a single day by regulations referred to as 'daily limits.' During
a single day, no trades may be executed at prices beyond the daily limit. Once
the price of a futures contract for a particular commodity has increased or
decreased by an amount equal to the daily limit, positions in the commodity can
neither be taken nor liquidated unless traders are willing to effect trades at
or within the limit. Commodity futures prices have occasionally moved the daily
limit for several consecutive days with little or no trading. Such market
conditions could prevent Series B from promptly liquidating its commodity
futures positions.
 
   Since Series B's business is to trade futures, forward and options contracts,
its capital is at risk due to changes in the value of these contracts (market
risk) or the inability of counterparties to perform under the terms of the
contract (credit risk). The Managing Owner attempts to minimize these risks by
requiring Series B's trading advisor to abide by various trading limitations and
policies. See Note E to the financial statements for a further discussion on the
credit and market risks associated with Series B's futures, forward and options
contracts.
 
   Series B does not have, nor does it expect to have, any capital assets.
 
   Future redemptions and contributions will impact the amount of funds
available for investment in commodity contracts in subsequent periods.
 
Results of Operations
 
   Series B commenced trading operations on June 10, 1998, and as such, no
comparative information is available for 1997.
 
   The net asset value per Interest as of June 26, 1998 was $98.77, a decrease
of 1.23% from the June 10, 1998 initial net asset value per Interest of $100.00.
 
   June trading resulted in losses. Unprofitable sectors included the financial,
energy, index and metal sectors. Partially offsetting losses were gains
generated in the currency sector. Strong trends in many of the major markets
contributed to gains in the first half of the month. However, U.S. intervention
in the foreign exchange markets on June 17th created a dramatic reversal across
global financial and commodity markets. The volatile 'yen effect' carried over
into markets usually not highly correlated such as a number of currencies,
interest rate instruments, stock indices, metals and energy products. Series B
held profitable positions in several different market sectors prior to the
intervention. At month-end, only the currency sector was able to retain gains of
any significance, with most of those coming from various Japanese yen crossrate
positions. Small losses from long deutsche mark exposure were the result of a
moderate flight to quality due to concern about European exposure to Russia.
Losses in the financial sector stemmed primarily from the sudden decline in
Australian bond prices caused by weakness in the Australian dollar. Meanwhile,
in the energy sector, the announcement of an OPEC-led oil production cut
produced a rally in oil prices, leading Series B to exit short positions with
losses. Slightly offsetting losses, Series B generated profits in the currency
sector, particularly in Japanese yen and Swiss franc positions as well as Swiss
franc/British pound crossrate positions.
 
                                       8
<PAGE>
   Interest income is earned on the average net assets held at PSI and,
therefore, varies monthly according to interest rates, trading performance,
contributions and redemptions. Interest income was $14,961 for the period ended
June 26, 1998.
 
   Commissions are calculated on Series B's net asset value at the end of each
week and therefore, vary according to weekly trading performance, contributions
and redemptions. Commissions for the period ended June 26, 1998 were $21,051.
 
   All trading decisions for Series B are made by Eclipse Capital Management,
Inc. (the 'Trading Advisor'). Management fees are calculated on Series B's net
asset value at the end of each week and therefore, are affected by weekly
trading performance, contributions and redemptions. Management fees for the
period ended June 26, 1998 were $5,432.
 
   Incentive fees are based on the New High Net Trading Profits generated by the
Trading Advisor, as defined in the Advisory Agreement among the Trust, the
Managing Owner and the Trading Advisor. No incentive fees were generated during
the period ended June 26, 1998.
 
                                       9
<PAGE>
                           PART II. OTHER INFORMATION
 
Item 1. Legal Proceedings--There are no material legal proceedings pending by or
        against the Registrant or the Managing Owner.
 
Item 2. Changes in Securities--None
 
Item 3. Defaults Upon Senior Securities--None
 
Item 4. Submission of Matters to a Vote of Security Holders--None
 
Item 5. Other Information--None
 
Item 6. Exhibits and Reports on Form 8-K:
       (a) Exhibits--
 
         3.1
         and
         4.1-- Second Amended and Restated Declaration of Trust and Trust
               Agreements of World Monitor Trust dated as of March 17, 1998
               (incorporated by reference to Exhibits 3.1 and 4.1 to Series B's
               Registration Statement on Form S-1, File No. 333-43041 dated as
               of March 23, 1998)
 
         4.2-- Form of Request for Redemption (incorporated by reference
               to Exhibit 4.2 to Series B's Registration Statement on Form
               S-1, File No. 333-43041 dated as of March 23, 1998)
 
         4.3-- Form of Exchange Request (incorporated by reference
               to Exhibit 4.3 to Series B's Registration Statement
               on Form S-1, File No. 333-43041 dated as of March 23,
               1998)
 
         4.4-- Form of Subscription Agreement (incorporated
               by reference to Exhibit 4.4 to Series B's
               Registration Statement on Form S-1, File No.
               333-43041 dated as of March 23, 1998)
 
         27.1--Financial Data Schedule (filed herewith)
 
        (b) Reports on Form 8-K--None
 
                                       10
<PAGE>
                                   SIGNATURES
 
   Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
 
WORLD MONITOR TRUST--SERIES B
 
By: Prudential Securities Futures Management Inc.
    A Delaware corporation, Managing Owner
 
     By: /s/ Steven Carlino                       Date: August 10, 1998
     ----------------------------------------
     Steven Carlino
     Vice President
     Chief Accounting Officer for the Registrant
 
                                       11