<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 September 24, 1999

                                       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: 0-25789

                         WORLD MONITOR TRUST--SERIES C
--------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

Delaware                                        13-3985042
--------------------------------------------------------------------------------
(State or other jurisdiction of        (I.R.S. Employer Identification No.)
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 C
                          (a Delaware Business Trust)
                       STATEMENTS OF FINANCIAL CONDITION
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                                      September 24,     December 31,
                                                                          1999              1998
<S>                                                                   <C>               <C>
----------------------------------------------------------------------------------------------------
ASSETS
Equity in commodity trading accounts:
Cash                                                                   $16,994,459      $10,653,709
Net unrealized gain on open commodity positions                          1,021,397          730,421
                                                                      -------------     ------------
Net equity                                                              18,015,856       11,384,130
Accrued interest receivable                                                 61,352          --
                                                                      -------------     ------------
Total assets                                                           $18,077,208      $11,384,130
                                                                      -------------     ------------
                                                                      -------------     ------------
LIABILITIES AND TRUST CAPITAL
Liabilities
Commissions payable                                                    $    95,258      $    71,305
Management fee payable                                                      27,301           19,620
Redemptions payable                                                          1,837          --
Incentive fee payable                                                        1,791          --
                                                                      -------------     ------------
Total liabilities                                                          126,187           90,925
                                                                      -------------     ------------
Commitments

Trust capital
Limited interests (164,712.281 and 107,003.103 interests
  outstanding)                                                          17,703,809       11,151,465
General interests (2,300 and 1,360 interests outstanding)                  247,212          141,740
                                                                      -------------     ------------
Total trust capital                                                     17,951,021       11,293,205
                                                                      -------------     ------------
Total liabilities and trust capital                                    $18,077,208      $11,384,130
                                                                      -------------     ------------
                                                                      -------------     ------------

Net asset value per limited and general interests ('Interests')        $    107.48      $    104.22
                                                                      -------------     ------------
                                                                      -------------     ------------
----------------------------------------------------------------------------------------------------
                  The accompanying notes are an integral part of these statements.
</TABLE>
                                       2
<PAGE>
                         WORLD MONITOR TRUST--SERIES C
                          (a Delaware Business Trust)
                            STATEMENTS OF OPERATIONS
                                  (Unaudited)
<TABLE>
<CAPTION>
                                                               For the
                                              For the        period from         For the         For the
                                            period from     June 10, 1998      period from     period from
                                            January 1,     (commencement of     June 26,        June 27,
                                              1999 to       operations) to       1999 to         1998 to
                                           September 24,    September 25,     September 24,   September 25,
                                               1999              1998             1999            1998
<S>                                        <C>             <C>                <C>             <C>
-----------------------------------------------------------------------------------------------------------
REVENUES
Net realized gain (loss) on commodity
  transactions                              $   820,059        $(96,094)        $(784,184)      $   4,995
Change in net unrealized gain on open
  commodity positions                           290,976         672,381           523,184         730,536
Interest income                                 554,089         118,609           223,020         103,810
                                           -------------   ----------------   -------------   -------------
                                              1,665,124         694,896           (37,980)        839,341
                                           -------------   ----------------   -------------   -------------
EXPENSES
Commissions                                     889,358         164,709           343,243         143,870
Management fees                                 230,071          42,532            88,851          37,155
Incentive fees                                  143,659          85,488             1,791          85,488
                                           -------------   ----------------   -------------   -------------
                                              1,263,088         292,729           433,885         266,513
                                           -------------   ----------------   -------------   -------------
Net income (loss)                           $   402,036        $402,167         $(471,865)      $ 572,828
                                           -------------   ----------------   -------------   -------------
                                           -------------   ----------------   -------------   -------------
ALLOCATION OF NET INCOME (LOSS)
Limited interests                           $   399,852        $397,589         $(463,878)      $ 565,924
                                           -------------   ----------------   -------------   -------------
                                           -------------   ----------------   -------------   -------------
General interests                           $     2,184        $  4,578         $  (7,987)      $   6,904
                                           -------------   ----------------   -------------   -------------
                                           -------------   ----------------   -------------   -------------
NET INCOME (LOSS) PER WEIGHTED AVERAGE
  LIMITED AND GENERAL INTEREST
Net income (loss) per weighted average
  limited and general interest              $      2.80        $   5.85         $   (2.92)      $    7.65
                                           -------------   ----------------   -------------   -------------
                                           -------------   ----------------   -------------   -------------
Weighted average number of limited and
  general interests outstanding                 143,809          68,715           161,551          74,849
                                           -------------   ----------------   -------------   -------------
                                           -------------   ----------------   -------------   -------------
-----------------------------------------------------------------------------------------------------------
</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, 1998            108,363.103     $11,151,465     $141,740      $11,293,205
Contributions                                71,106.135       7,496,381      103,288        7,599,669
Net income                                      --              399,852        2,184          402,036
Redemptions                                 (12,456.957)     (1,343,889)       --          (1,343,889)
                                           ------------     -----------     ---------     -----------
Trust capital--September 24, 1999           167,012.281     $17,703,809     $247,212      $17,951,021
                                           ------------     -----------     ---------     -----------
                                           ------------     -----------     ---------     -----------
-----------------------------------------------------------------------------------------------------
                  The accompanying notes are an integral part of these statements.
</TABLE>
                                       3
<PAGE>
                         WORLD MONITOR TRUST--SERIES C
                          (a Delaware Business Trust)
                         NOTES TO FINANCIAL STATEMENTS
                               SEPTEMBER 24, 1999
                                  (Unaudited)

A. General

   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 World Monitor Trust--Series C ('Series C') as of September 24, 1999
and the results of its operations for the periods from January 1, 1999 to
September 24, 1999 ('Year-To-Date 1999'), June 10, 1998 (commencement of
operations) to September 25, 1998 ('Year-To-Date 1998'), June 26, 1999 to
September 24, 1999 ('Third Quarter 1999') and June 27, 1998 to September 25,
1998 ('Third Quarter 1998'). However, the operating results for the interim
periods may not be indicative of the results expected for a full year.

   Certain information and footnote disclosures normally included in annual
financial statements prepared in accordance with generally accepted accounting
principles have been omitted. It is suggested that these financial statements be
read in conjunction with the financial statements and notes thereto included in
Series C's Annual Report on Form 10-K filed with the Securities and Exchange
Commission for the year ended December 31, 1998 (the 'Annual Report').

B. Related Parties

   The managing owner of Series C 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. The Managing Owner or its affiliates perform services for
Series C which include but are not limited to: brokerage services, accounting
and financial management, registrar, transfer and assignment functions, investor
communications, printing and other administrative services. Except for costs
related to brokerage services, PSI or its affiliates pay the costs of these
services in addition to costs of organizing Series C and offering its Interests
as well as the routine operational, administrative, legal and auditing fees. As
described in the Annual Report, all commissions for brokerage services are paid
to PSI.

   All of the proceeds of the offering of Series C are received in the name of
Series C and deposited in trading or cash accounts at PSI, Series C's commodity
broker. Series C's assets are maintained either with PSI or, for margin
purposes, with the various exchanges on which Series C is permitted to trade.
PSI credits Series C monthly with 100% of the interest it earns on the average
net assets in Series C's accounts.

   Series C, 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 Series C pursuant to a line of credit. PSI may require that collateral
be posted against the marked-to-market positions of Series C.

                                       4

<PAGE>
   As of September 24, 1999, a non-U.S. affiliate of the Managing Owner owns
103.156 limited interests of Series C.

C. Credit and Market Risk

   Since Series C'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 or 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 C's exposure to market risk is influenced by a number of factors
including the relationships among the contracts held by Series C 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 C must rely solely on the credit of its broker (PSI) with
respect to forward transactions. Series C 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 Series C and its 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. Additionally, pursuant
to the Advisory Agreement among Series C, the Managing Owner and the trading
advisor, Series C shall automatically terminate the trading advisor if the net
asset value allocated to the trading advisor declines by 33 1/3% from the value
at the beginning of any year or since the commencement of trading activities.
Furthermore, the Second Amended and Restated Declaration of Trust and Trust
Agreement provides that Series C will liquidate its positions, and eventually
dissolve, if Series C experiences a decline in the net asset value of 50% from
the value at the beginning of any year or since the commencement of trading
activities. In each case, the decline in net asset value is after giving effect
for distributions, contributions and redemptions. 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 C.

   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 C all assets of Series C relating to
domestic futures and options trading and is not to commingle such assets with
other assets of PSI. At September 24, 1999, such segregated assets totalled
$15,770,270. Part 30.7 of the CFTC regulations also requires PSI to secure
assets of Series C related to foreign futures and options trading which totalled
$2,273,760 at September 24, 1999. There are no segregation requirements for
assets related to forward trading.

   As of September 24, 1999, all open futures and forward contracts mature
within one year.

                                       5
<PAGE>
   As of September 24, 1999 and December 31, 1998, gross contract amounts of
open futures and forward contracts for Series C were:

<TABLE>
<CAPTION>
                                          1999            1998
                                      ------------    ------------
<S>                                   <C>             <C>
Financial Futures Contracts:
  Commitments to purchase             $ 30,014,596    $ 48,489,458
  Commitments to sell                  169,638,573     117,063,496

Currency Futures Contracts:
  Commitments to purchase               28,755,853       4,412,265
  Commitments to sell                   19,765,340       7,040,770

Currency Forward Contracts:
  Commitments to purchase                  707,050         --
  Commitments to sell                    1,973,245         --

Other Futures Contracts:
  Commitments to purchase               17,803,196         414,073
  Commitments to sell                   12,101,491       6,486,721
</TABLE>

   The gross contract amounts represent Series C's potential involvement in a
particular class of financial instrument (if it were to take or make delivery on
an underlying futures or forward contract). The gross contract amounts
significantly exceed the future cash requirements as Series C 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 C considers the 'fair value' of its futures and forward 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 C'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.

   At September 24, 1999 and December 31, 1998, the fair value of open futures
and forward contracts was:

<TABLE>
<CAPTION>
                                                       1999                              1998
                                           ----------------------------       --------------------------
                                             Assets         Liabilities        Assets        Liabilities
                                           ----------       -----------       --------       -----------
<S>                                        <C>              <C>               <C>            <C>
Futures Contracts:
  Domestic exchanges
     Financial                             $   40,651        $   54,725       $ 51,374        $    7,494
     Currencies                               940,708            22,259        101,585            76,033
     Other                                    345,167           373,463        106,122             6,522
  Foreign exchanges
     Financial                                215,351           227,517        525,504            26,524
     Other                                    338,967           153,309         74,713            12,304
Forward Contracts:
     Currencies                                35,129            63,303          --              --
                                           ----------       -----------       --------       -----------
                                           $1,915,973        $  894,576       $859,298        $  128,877
                                           ----------       -----------       --------       -----------
                                           ----------       -----------       --------       -----------
</TABLE>
                                       6

<PAGE>
   The following table presents the average fair value of futures and forward
contracts for the periods detailed below:
<TABLE>
<CAPTION>
                                                                                                                       Third
                                                                                                                      Quarter
                               Year-To-Date 1999             Year-To-Date 1998             Third Quarter 1999           1998
                           --------------------------     ------------------------     --------------------------     --------
                             Assets       Liabilities      Assets      Liabilities       Assets       Liabilities      Assets
                           ----------     -----------     --------     -----------     ----------     -----------     --------
<S>                        <C>            <C>             <C>          <C>             <C>            <C>             <C>
Futures Contracts:
  Domestic exchanges
    Financial              $  121,701      $   13,940     $ 40,780      $   17,780     $  192,462      $   23,578     $101,950
    Currencies                707,639         148,035       37,482           9,589        846,610         218,736       93,706
    Other                     198,101          71,721       33,117           9,213        323,804         121,240       82,794
  Foreign exchanges
    Financial                 386,759          97,975       99,939           5,507        530,234         172,772      249,848
    Other                     140,733         115,100       11,810          34,798        183,364         145,329       29,525
Forward Contracts:
    Currencies                 27,487          44,650        2,849          27,005         22,402          68,109        7,123
                           ----------     -----------     --------     -----------     ----------     -----------     --------
                           $1,582,420      $  491,421     $225,977      $  103,892     $2,098,876      $  749,764     $564,946
                           ----------     -----------     --------     -----------     ----------     -----------     --------
                           ----------     -----------     --------     -----------     ----------     -----------     --------
<CAPTION>
                             Third
                            Quarter
                             1998
                          -----------
                          Liabilities
                          -----------
<S>                        <C>
Futures Contracts:
  Domestic exchanges
    Financial              $   44,449
    Currencies                 23,972
    Other                      23,033
  Foreign exchanges
    Financial                  13,767
    Other                      86,995
Forward Contracts:
    Currencies                 67,511
                          -----------
                           $  259,727
                          -----------
                          -----------
</TABLE>

   The following table presents the trading revenues of futures and forward
contracts for the periods detailed below:

<TABLE>
<CAPTION>
                            Year-To-Date     Year-To-Date     Third Quarter      Third Quarter
                                1999             1998              1999               1998
                            ------------     ------------     --------------     --------------
<S>                         <C>              <C>              <C>                <C>
Futures Contracts:
  Domestic exchanges
     Financial               $(140,284)       $  396,440        $ (779,782)        $  385,791
     Currencies               1,897,210         (258,935)        1,259,960           (236,261)
     Other                    (639,217)         (205,885)         (939,065)          (119,230)
  Foreign exchanges
     Financial                 (47,954)          835,751          (130,044)           834,566
     Other                        7,480         (157,190)          265,323           (135,168)
Forward Contracts:
     Currencies                  33,800          (33,894)           62,608              5,833
                            ------------     ------------     --------------     --------------
                             $1,111,035       $  576,287        $ (261,000)        $  735,531
                            ------------     ------------     --------------     --------------
                            ------------     ------------     --------------     --------------
</TABLE>
                                       7
<PAGE>
                         WORLD MONITOR TRUST--SERIES C
                          (a Delaware Business Trust)
           ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                      CONDITION AND RESULTS OF OPERATIONS

Liquidity and Capital Resources

   Series C commenced operations on June 10, 1998 with gross proceeds of
$5,706,177 allocated to commodities trading. Additional contributions raised
through the continuous offering for the period from June 10, 1998 (commencement
of operations) through September 24, 1999 resulted in additional gross proceeds
to Series C of $12,856,374. Additional Interests of Series C 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 September 24, 1999, 100% of Series C's net assets were allocated to
commodities trading. A significant portion of the net assets was held in cash
which is used as margin for Series C's trading in commodities. Inasmuch as the
sole business of Series C is to trade in commodities, Series C continues to own
such liquid assets to be used as margin. PSI credits Series C monthly with 100%
of the interest it earns on the average net assets in Series C'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 C from promptly liquidating its commodity
futures positions.

   Since Series C'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
contracts (credit risk). Series C's exposure to market risk is influenced by a
number of factors including the volatility of interest rates and foreign
currency exchange rates, the liquidity of the markets in which the contracts are
traded and the relationships among the contracts held. The inherent uncertainty
of Series C's speculative trading as well as the development of drastic market
occurrences could result in monthly losses considerably beyond Series C's
experience to date and could ultimately lead to a loss of all or substantially
all of investors' capital. The Managing Owner attempts to minimize these risks
by requiring Series C and its trading advisor to abide by various trading
limitations and policies, which include limiting margin amounts, trading only in
liquid markets and utilizing stop loss provisions. See Note C to the financial
statements for a further discussion on the credit and market risks associated
with Series C's futures and forward contracts.

   Series C does not have, nor does it expect to have, any capital assets.

   Redemptions of limited interests for the Third Quarter 1999 were $602,330.
Redemptions of limited interests for the period from June 10, 1998 (commencement
of operations) through September 24, 1999 were $1,479,423. Future redemptions
and contributions will impact the amount of funds available for investment in
commodity contracts in subsequent periods.

Results of Operations

   The net asset value per Interest as of September 24, 1999 was $107.48, an
increase of 3.13% from the December 31, 1998 net asset value per Interest of
$104.22, but a decrease of 2.59% from the June 25, 1999 net asset value per
Interest of $110.34.

Quarterly Market Overview

   During the quarter, global financial markets experienced heavy volatility. In
July, U.S. Federal Reserve policy gave markets a boost. However, record trade
deficits, higher employment costs, fears of inflation, and higher interest rates
in the U.S. quickly caused a reversal in U.S. stock and bond markets. Global
stock and bond markets followed U.S. markets demonstrating increased volatility.
The U.S. dollar also experienced fluctuations throughout the quarter as signs of
a stronger U.S. economy versus the European community

                                       8

<PAGE>
supported the dollar's rise to new highs against most major currencies. However,
later in the quarter as a record trade gap and stronger than expected European
economic data were reported, the U.S. dollar came under pressure and continued
to fall against most major currencies and to record lows against the Japanese
yen. In the commodities markets, energy prices rose as OPEC members agreed to
maintain cuts in oil output. The metal sector experienced extreme movement as
gold prices rose to a two-year high following reports that 15 European central
banks would limit sales and retain higher gold reserves.

Quarterly Performance of Series C

   In the financial sector, Series C generated losses due to weakness in global
bond markets. Pressure throughout Europe and the U.S. to raise rates continued
to repress bond prices. Global interest rate markets followed the U.S. lead as
rates moved higher. On August 24th, the Federal Open Market Committee decided to
increase the U.S. federal funds rate by 25 basis points. In Japan, long-term
interest rates rose during the first half of the quarter on concerns that more
government bonds may be issued to finance the bailout of the weaker Japanese
banks. Positions in Japanese government bonds and U.S. Treasury bonds incurred
losses.

   Losses in the grain sector were derived from long soybean, soybean meal, and
soybean oil positions. Soybeans and soybean oil prices fell on alleviation of
drought-related supply concerns, and the market began to focus on weak domestic
demand towards quarter-end.

   Series C captured gains in the energy sector from long positions in natural
gas, unleaded gas, and heating oil. OPEC's production cuts continued to prove
effective for oil markets. Expectations that current output levels could be
maintained for the foreseeable future also contributed to the bullish sentiment.
Gas markets also benefited from OPEC's actions.

   Trading in the index sector resulted in losses due to positions in the EUR
DAX (Germany), Nikkei Dow (Japan), and the S&P 500. In Germany, Chancellor
Schroeder's political programs for economic reform seemed in trouble as state
election polls showed that his Social Democrat party would lose its majority in
the Bundesrat, the upper chamber of German parliament, thus weighing on the
value of the Deutsche mark. In Japan, the Nikkei Dow moved sideways and a bit
downward though not demonstrating a bear trend, closing lower by quarter-end.
The U.S. stock market fell 12% from its 1999 high in July in anticipation of an
August interest rate hike. Global stock markets followed the U.S. market's lead.
Pressure to raise rates throughout the world repressed global stock and bond
prices throughout the remainder of the quarter.

   Gains accumulated in the currency sector were due to long Japanese yen
positions. The yen rallied against the U.S. dollar and European currencies
following a stronger-than-expected second quarter GDP report. The U.S. dollar
plummeted to a 3 1/2 year low against the yen. The rally was sustained by an
optimistic outlook for the Japanese economy, in addition to the absence of
meaningful intervention by the Bank of Japan.

   Profits in the metal sector were derived from long copper, aluminum, and zinc
positions. Base metals benefited from the planned consolidation of aluminum and
copper producers, as this promised a better control of production and supply.
Additionally, base metal prices, including zinc, moved higher as both growing
demand and various production problems caused a decline in warehouse stocks.

   Series C commenced trading operations on June 10, 1998, and as such, full
year to date comparative information is not meaningful for 1998. Increases in
interest income, commissions, and management fees during Third Quarter 1999 as
compared to Third Quarter 1998 are primarily due to the effect of contributions
received and favorable trading performance during 1998 and 1999 on Series C's
net asset values.

   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 $554,000 and $119,000 for
Year-To-Date 1999 and Year-To-Date 1998, respectively. Interest income increased
$119,000 during Third Quarter 1999 as compared to Third Quarter 1998 due to the
reasons discussed above, partially offset by lower interest rates in 1999.

   Commissions are calculated on Series C's net asset value at the end of each
week and therefore, vary according to weekly trading performance, contributions
and redemptions. Commissions were $889,000 and $165,000 for Year-To-Date 1999
and Year-To-Date 1998, respectively. Commissions increased $199,000 during Third
Quarter 1999 as compared to Third Quarter 1998 due to the reasons discussed
above.

                                       9
<PAGE>
   All trading decisions for Series C are made by Hyman Beck & Company, Inc.
(the 'Trading Advisor'). Management fees are calculated on Series C's net asset
value at the end of each week and therefore, are affected by weekly trading
performance, contributions and redemptions. Management fees were $230,000 and
$43,000 for Year-To-Date 1999 and Year-To-Date 1998, respectively. Management
fees increased $52,000 during Third Quarter 1999 as compared to Third Quarter
1998 due to the reasons discussed above.

   Incentive fees are based on the New High Net Trading Profits generated by the
Trading Advisor, as defined in the Advisory Agreement among Series C, the
Managing Owner and the Trading Advisor. Incentive fees were $144,000, $85,000,
$2,000 and $85,000 for Year-To-Date 1999, Year-To-Date 1998, Third Quarter 1999
and Third Quarter 1998, respectively.

Year 2000 Risk

   A discussion of Year 2000 risk and its effect on the operations of Series C
is included in Series C's Annual Report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

   Information regarding quantitative and qualitative disclosures about market
risk is not required pursuant to Item 305(e) of Regulation S-K.

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                           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. (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 C's Registration Statement on Form S-1,
      File No. 333-43043)

 4.2-- Form of Request for Redemption (incorporated by reference to Exhibit 4.2
      to Series C's Registration Statement on Form S-1, File No. 333-43043)

 4.3-- Form of Exchange Request (incorporated by reference to Exhibit 4.3 to
      Series C's Registration Statement on Form S-1, File No. 333-43043)

 4.4-- Form of Subscription Agreement (incorporated by reference to Exhibit 4.4
      to Series C's Registration Statement on Form S-1, File No. 333-43043)

27.1--Financial Data Schedule (filed herewith)

        (b) Reports on Form 8-K--None

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                                   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 C

By: Prudential Securities Futures Management Inc.
    A Delaware corporation, Managing Owner

     By: /s/ Steven Carlino                       Date: November 8, 1999
     ----------------------------------------
     Steven Carlino
     Vice President and Treasurer

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