UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


    [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                  For the quarterly period ended June 30, 2003
                                 --------------

                        Commission File number: 333-64718

                      HANSEATIC DISCRETIONARY POOL, L.L.C.
             (Exact Name of Registrant as specified in its charter)

                            Oklahoma 6200 11-3455001
  State of Organization) (Primary Standard Industrial I.R.S. Employer I.D. No.
                           Classification Code Number)

                             9925 South Pennsylvania
                                    Suite 110
                          Oklahoma City, Oklahoma 73159
                                 (405) 691-2793
                           (405) 691-6124 (Facsimile)
               (Address, including zip code and telephone number,
              including area code of Registrant's principal office)



Indicate by check mark 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,  and (2) has been subject to such filing  requirements
for the past 90 days.
                                             Yes [ X ]         No [   ]

                           Total number of Pages: 13



<PAGE>



                         PART I - FINANCIAL INFORMATION


Item 1.        Financial Statements

The following  unaudited financial  statements of Hanseatic  Discretionary Pool,
L.L.C. are included in Item 1:

        Balance Sheet as of June 30, 2003 (Unaudited)

        Statements of Operations for the Three-Month and Six-Month Periods Ended
                 June 30, 2003 and June 30, 2002 (Unaudited)

        Statements of Cash Flows for the  Six-Month  Periods Ended June 30, 2003
            and June 30, 2002 (Unaudited)

        Statements of Changes in  Members'  Equity  for the  Six-Months  Periods
            Ended June 30, 2003 and June 30, 2002 (Unaudited)




<PAGE>


                      Hanseatic Discretionary Pool, L.L.C.
                            Balance Sheet (Unaudited)
                               As of June 30, 2003

                                                                   30-Jun-03
                                                                 -------------
ASSETS

   Cash and short term marketable securities                       $   99,346
   Deposits with clearing broker:                                   2,035,940
   Prepaid expenses                                                    39,927
   Interest receivable                                                    645
                                                                 -------------

         Total assets                                             $ 2,175,858
                                                                 =============


LIABILITIES

  Redemption's payable                                            $   101,246
  Subscriptions pending                                                     0
  Net asset fees payable                                               13,353
  Operating expenses payable                                              729
                                                                --------------
         Total liabilities                                            115,328


MEMBERS' EQUITY (Units redeemable at the option of
   the unit holder)

Manager  (416 units at 6/30/03)                                        41,600
Members (20,140 units at 6/30/03                                    2,018,930
                                                                --------------
         Total members' equity                                      2,060,530
                                                                --------------

         Total liabilities & member's equity                      $ 2,175,858
                                                                 =============



Please see the notes to these unaudited financial statements.


<PAGE>

                      Hanseatic Discretionary Pool, L.L.C.
                       Statement of Operations (Unaudited)
              For the Periods Ended June 30, 2003 and June 30, 2002


<TABLE>
<CAPTION>

                                            Six        Six       Three      Three
                                          Months      Months     Months     Months
                                         30-Jun-03   30-Jun-02  30-Jun-03  30-Jun-02
                                         =========   =========  =========  =========
<S>                                      <C>         <C>         <C>       <C>
Revenues:
   Gross realized trading
      gains (losses)                     ($34,817)   ($46,848)   $26,189   ($40,772)
   Change in open trade equity
      gain (loss)                          12,542      (1,688)     4,917     21,026
                                        ----------  ----------  ---------  ---------
   Total revenues (loss) from trading     (22,275)    (48,536)    31,106    (19,746)

Less cost of revenues:
   Incentive fees                               0           0          0          0
   Commission expenses                    (68,985)    (86,293)   (32,216)   (38,279)
                                        ----------  ----------  ---------  ---------
Gross margin (deficit) on trading         (91,260)   (134,829)    (1,110)   (58,025)
   activities

Administration expenses:
   Net asset fees                          23,733      29,698     11,054     13,200
   Operating expenses                      12,511      14,897      5,130      8,269
                                        ----------  ----------  ---------  ---------
Total administrative expenses              36,244      44,595     16,184     21,469
                                        ----------  ----------  ---------  ---------
   Income (loss) from operations         (127,504)   (179,424)   (17,294)   (79,494)

Other income (expense):
    Interest income                         5,480      15,403      2,128      6,469
    Other                                  (2,804)     (3,114)       549      1,368
    Interest expense                            0           0          0          0
                                        ----------  ----------  ---------  ---------
Net income (loss) before provision       (124,828)   (167,135)   (14,617)   (71,657)
    for income taxes

    Provision for income taxes                  0           0          0          0
                                        ----------  ----------  ---------  ---------
Net income (loss) available to members  ($124,828)  ($167,135)  ($14,617)  ($71,657)
                                        ==========  ==========  =========  =========

Net income (loss) per unit                 ($5.37)     ($6.20)    ($0.60)    ($2.83)

Weighted average of units outstanding      23,231      26,959     24,349     25,308

</TABLE>


Please see the notes to these unaudited financial statements.



<PAGE>


                      Hanseatic Discretionary Pool, L.L.C.
                       Statement of Cash Flows (Unaudited)
         For the Six Month Periods Ended June 30, 2003 and June 30, 2002



                                                       30-Jun-03     30-Jun-02
                                                      -----------   -----------
Cash flows from (for) operating activities:

  Net income (loss) available to members               ($124,828)    ($167,135)
                                                      -----------   -----------
    Changes in other operating assets and liabilities:
      Clearing broker deposits                           547,491     1,496,880
      Interest receivable                                   (327)        2,722
      Commissions receivable                                 495       (15,579)
      Trailer commissions payable                              0        (7,239)
      Operating expenses payable                          (2,088)       (1,793)
      Net asset fees payable                              (1,293)       (2,697)
                                                      -----------   -----------
  Net cash provided (used) by operating activities       419,450     1,305,159

Cash flows from (for) financing activities:

      Subscriptions                                      100,200        79,138
      Subscriptions pending                              (95,200)       (1,138)
      Redemption's                                      (521,700)   (1,520,842)
                                                      -----------   -----------
  Net cash provided (used) by financing activities      (516,700)   (1,442,842)
                                                      -----------   -----------

Net change in cash position                              (97,250)     (137,683)
Cash balance at beginning of fiscal year                 196,596       237,750
                                                      -----------   -----------

Cash balance at end of the period                       $ 99,346     $ 100,067
                                                      ===========   ===========

Supplemental disclosures of cash flow information:
     Interest paid during the period                    $      0     $       0
     Income taxes paid during the period                $      0     $       0


Please see the notes to these unaudited financial statements.



<PAGE>


                      Hanseatic Discretionary Pool, L.L.C.
               Statement of Changes in Members' Equity (Unaudited)
              For the Periods Ended June 30, 2003 and June 30, 2002




                                           Members'      Units       Net Asset
                                            Equity     Outstanding    per unit
                                         -----------   -----------    --------
Net Asset Value at January 1, 2002       $3,986,966        36,383      $   110

                 Subscriptions               79,138           742

                 Redemption's            (1,389,186)     ( 13,218)

                 Net income (loss)         (167,135)
                                         -----------   -----------    --------
Net Asset Value at June 30, 2002         $2,509,783        23,907      $   105
                                         ===========   ===========    ========



                                           Members'      Units       Net Asset
                                            Equity     Outstanding    per unit
                                         -----------   -----------    --------
Net Asset Value at January 1, 2003       $2,605,286        25,003      $   104

                 Subscriptions              100,200           964

                 Redemptions               (520,128)       (5,411)

                 Net income (loss)         (124,828)
                                         -----------   -----------    --------
Net Asset Value at June 30, 2003         $2,060,530        20,556      $   100
                                         ===========   ===========    ========






Please see the notes to these unaudited financial statements.



<PAGE>

Hanseatic Discretionary Pool, L.L.C.
Notes to the Financial Statements
For the Periods Ended June 30, 2003 and June 30, 2002


Note 1.  Organization and Summary of Significant Accounting Policies

The Hanseatic  Discretionary Pool, LLC (the Pool) is a limited liability company
organized  under the laws of the state of New York in  September  1998.  In July
2000, the state of organization  of the Pool was moved to Oklahoma.  The Pool is
operated by Pool Management Services, Inc., a commodity pool operator (member of
the National  Futures  Association  and  registered  with the Commodity  Futures
Trading  Commission).  The Pool may and does use funds that are combined for the
purpose of speculative trading in commodity futures and option contracts.

Use of Estimates: The preparation of the financial statements in conformity with
generally accepted  accounting  principals  requires  management to make certain
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the reporting period. Actual results may differ from these estimates.

Cash & short term  deposits:  For the  purposes of the  statement of cash flows,
cash  includes cash deposits and short term  securities  with maturity  dates of
less than three months from the date of the financial statements.

Deposits with Clearing  Broker:  Includes the assets of the Pool on deposit with
the clearing  futures  commission  merchant used to margin open positions.  Cash
balance reflects the amount of cash on deposit and the value of all open futures
and options position marked to the market using the closing settlement prices of
the open futures and options contracts at June 30, 2003 and June 30, 2002.

Subscriptions  pending:  Funds received from prospective members to the Pool are
accounted  for as  subscriptions  pending  until the  appropriate  paperwork and
verification  procedures have been  completed.  Upon  completion,  subscriptions
pending are transferred to members' equity.

Revenue  Recognition:  Gross realized  trading gains or losses are recognized on
the trade  date.  Positions  open at period end are  marked to market  using the
closing settlement price at period end and are included in changes in open trade
equity.

Commission expenses: The Pool is charged an annual fixed commission rate of 5.8%
of the Pool's net asset  value,  paid  monthly  at a rate of  .41667%.  The 5.8%
annual fixed commission rate included a trailer commission of approximately 4.0%
annually (pad monthly at a rate of .33333%) of the Pool's net asset value.

Net Asset Fees: The Pool's manager  charges a monthly net asset fee of .1667% of
the Pool's  net asset  value.  Upon  collecting  the net asset  fee,  the Pool's
Manager pays the entirety of the net asset fee to  Hanseatic  Group,  the Pool's
Certified Trading Advisor.

Incentive  fees: The Pool's  manager  charges an incentive fee of 10% on the new
net trading profits of the Pool, calculated on a quarterly basis.  Additionally,
the Pool's Commodity  Trading Advisor charges an incentive fee of 10% on the new
net trading profits of the Pool, calculated on a quarterly basis.
<PAGE>

Currency  conversion:   The  Pool  applies  Statement  of  Financial  Accounting
Standards (SFAS) No. 52, Foreign Currency  Translation.  Accordingly,  the gains
and losses on speculative  trading transacted in a foreign currency are included
in the statement of operations in total  revenues or losses from trading.  Gains
or losses  from  currency  conversion  arise when gains or losses  from  trading
transacted in a foreign currency are converted to U.S.  dollars.  These gains or
losses are  determined by the  difference  between the foreign  currency rate in
effect at the opening of the speculative  transaction in a foreign  currency and
the repatriation of funds to U.S. dollars.

Income  Taxes-  The Pool has  elected  to be taxed as a  partnership  under  the
Internal Revenue Service Code.  Accordingly,  the individual members of the Pool
report the Pool's taxable income.

Note 2. Allocation of Net Income

The net  income  or  loss of the  Pool is  allocated  to the  participants  on a
pro-rata monthly basis based upon each partner's weighted  percentage  ownership
during the month.

Note 3. Financial  Instruments with Off-Balance Sheet Risk and Concentrations of
Credit Risk

The Pool engages in speculative  trading in exchange  traded futures and options
contracts  that involve  varying  degrees of market and credit risk that exposes
the Pool to risk of loss that may be in excess of the amounts  presented  in the
balance  sheet.  Market  risks may arise from  unfavorable  changes in  interest
rates,  foreign  exchange  rates,  or  the  market  values  of  the  instruments
underlying the futures and options contracts.  All contract positions are stated
at fair value and those values are  reflected  in total  revenue from trading in
the statement of operations.

The value of Pool's  assets may have changed  significantly  by the date of this
report due to changes in market  prices for the  contracts  open at December 31,
2002.

The Pool is exposed  to credit  risk in the event of  nonperformance  by counter
parties  to  financial   instruments.   The  credit  risk  from  counter   party
nonperformance associated with these financial instruments is the net unrealized
gain, if any included in the statement of operations. The Pool seeks to mitigate
credit risk by conducting transactions in designated exchange traded futures and
options  contracts.  The Pool does not participate in "over the counter" trading
in futures and option contracts.  As opposed to "over the counter" trading,  the
counter  party to all  contracts is the clearing  exchange  and  performance  is
guaranteed by the full membership of the exchange.

The Pool seeks to control  market  risk by  monitoring  all open  positions  for
adverse changes in market price on a real time basis. The Pool places protective
stop orders and, in some cases,  defensive  hedge  positions in order to protect
Pool assets.

Note 4. Other Concentrations of Credit Risk

The Pool has a  substantial  portion of its assets on deposit  with the clearing
futures commission merchant. The Pool's assets are commingled with the assets of
other  unrelated   entities  with  similar  deposits  at  the  clearing  futures
commission  merchant.  In the event of the  insolvency  of the clearing  futures
commission merchant,  recovery of the Pool's assets may be limited to a pro rata
share  of  available  funds on  deposit  with the  clearing  futures  commission
merchant.
<PAGE>

Note 5. Net Income Per Unit

The  Company  calculates  net income per unit based on the  weighted  average of
membership  units  outstanding  during the period.  There are no other financial
instruments  outstanding  that are  convertible  into units  during the  periods
presented.  The following table is a detail of membership  units and the average
weighted  membership  units  outstanding for the six and three months ended June
30, 2003 and June 30, 2002


                                                  Six Months        Six Months
                                                  30-Jun-03         30-Jun-02
                                                  ==========        ==========

Units outstanding                                   20,556           23,907

Weighted average of units outstanding               23,231           26,959


                                                  Three Months     Three Months
                                                   30-Jun-03         30-Jun-02
                                                  ============      ============

Units outstanding                                   20,556           23,907

Weighted average of units outstanding               24,349           25,308


Note 6. Redemptions

Members  may  redeem  any part or all of their  units in the pool  upon  written
notice  on or before  the  close of  business  of the last  business  day of any
calendar month. The redemption  amount will be based upon the net asset value of
the units of membership  interest as calculated at the end of the month in which
the redemption request is received.  Redemptions may not be granted in the event
the Pool does not have enough the liquid assets to pay the requested redemption.

Units that are redeemed within the first six months of subscription  are charged
a 4% early withdrawal fee. Units that are redeemed between the 6th month and the
12th month following subscription are charged a 3% early withdrawal fee.


Note 7. Net Asset Value per Unit

Net Asset Value per unit is  calculated  by dividing  the Net Asset Value of the
Pool at the end of the reporting period by the number of pool units  outstanding
at the end of the reporting period.

The Net Asset Value of the pool is equal to: Existing pool cash funds,  plus any
new additions of cash funds, plus or minus profits or losses from closed trades,
plus or minus profits or losses from trades currently open, less commission fees
(inclusive of all  transaction  fees),  plus or minus any gains or losses in the
conversion of foreign  currency,  less net asset fees, less operating  expenses,
plus interest income.
<PAGE>


ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.

The Fund is a limited liability  company.  The Fund is operated by it's Manager,
Pool Management  Services,  Inc. ("PMSI").  PMSI is a commodity pool operator, a
member of the National  Futures  Association  and registered  with the Commodity
Futures Trading Commission. As a commodity pool, the Fund may use funds that are
combined for the purpose of trading futures and commodity option contracts.

General Statement: Factors that may affect future results

With  the  exception  of  historical  information,   the  matters  discussed  in
Management's  Discussion  and  Analysis of  Financial  Condition  and Results of
Operations  and elsewhere in this  quarterly  report  contains  forward  looking
statements under the 1995 Private Securities  Litigation Reform Act that involve
various risks and  uncertainties.  Typically,  these statements are indicated by
words  such as  "anticipates",  "expects",  "believes",  "plans",  "could",  and
similar words and phrases. Factors that could cause the Fund's actual results to
differ  materially  from  management's  projections,  forecasts,  estimates  and
expectations include but are not limited to the following:

     *    Unexpected global economic changes.

     *    The imposition of new  restrictions or regulations by contract markets
          or government agencies that affect the Fund's trading activities.

To the extent  possible,  the following  discussion  will  highlight the trading
activities of the Fund.  The amounts  discussed have been rounded to the nearest
thousandth.

Results of Operations

For the six-month period ended June 30, 2003

Trading Revenues  Realized By The Fund: During the six-month period of 2003, the
Fund's  gross  trading  revenues  were a loss  $91,260  compared  to a loss of $
134,829 for the same period of 2002.

In the  first  six-month  period  of  2002,  more  difficult  market  conditions
prevailed.  That was the primary reason for the greater loss in trading revenues
for that timeframe. The reduction in the amount of losses in the first six-month
period of 2003 came largely from improved market conditions during that time.

At times,  market  conditions are more favorable for Hanseatic's  trading models
than at other times. When market conditions are more favorable,  more profitable
results  are  usually   achieved.   The  primary  factor  that   influences  the
profitability  of  Hanseatic's  trading  models  is the  degree  of  choppiness,
volatility and  continuity in the way the markets  trade.  When markets are less
choppy and volatile and price movement is more continuous,  Hanseatic's  trading
models  typically  perform more  profitably.  Conversely,  more  choppiness  and
volatility  and  less  continuous  market  activity  is less  favorable  for the
profitability of Hanseatic's trading models.

Net Asset Fees Paid By The Fund: During the first six-month periods of both 2003
and 2002, the Fund's  Commodity  Trading Advisor charged a monthly net asset fee
of .16667% of the Fund's net asset value for the  administration  of trading for
the Fund.

<PAGE>

During  the first  six-month  period of 2003,  net asset fees  totaled  $23,733.
During the first six-month period of 2002, these fees totaled $29,698.

The  reason  for the  decrease  in the net asset  fees from the first  six-month
period of 2002 to the first six-month period of 2003 was the decrease in the net
asset value of the fund that occurred in the year separating the two periods. In
general,  the lower the  total  net asset  value of the fund,  the lower the net
asset fees will be.

Interest  Income  Earned By The Fund:  From the inception of the Fund until June
30, 2001, the Fund's manager was paid all of the interest  income earned on Fund
assets.  The manager received this fee as compensation for its administration of
the Fund's affairs and as  reimbursement  for the manager's  payment of all Fund
operating expenses (such as rent, phones,  postage, legal and professional fees,
etc).

Commencing in April, 2001,  interest income earned on Fund assets have inured to
the benefit of the Fund.  Interest income for the first six-month period of 2003
totaled  $5,480 as  compared  to  interest  income of  $15,403  during the first
six-month period of 2002.

The decrease in the amount of interest  income  earned from the first  six-month
period of 2002 to the first  six-month  period  of 2003 is  attributed  to: 1) a
decrease in the Fund's net asset value that occurred in the year  separating the
two periods. In general,  the lower the Fund's net asset value, the fewer assets
that were available to earn interest., and 2) A significant decrease in interest
rates being paid on fund assets.

Overall  Performance  Results:  Income from  operations  in the first  six-month
period of 2003, after deducting net asset fees, commissions,  and incentive fees
was a loss of  $127,504.  That  compares  with a loss of $179,424  for the first
six-month period of 2002.

After adding  gains  recognized  on  converting  funds used to margin  contracts
traded in foreign currency back to U.S. base currency and legal/accounting fees,
the Fund  experienced net loss in first six-month  period of 2003 of $124,828 as
compared to a net loss of $167,135 for the first six-month period of 2002.

The Net Loss available to members from operations for the first six-month period
of 2003 was a loss of $124,828.  That compares to a net loss from  operations of
$167,135 for the first six-month period of 2002.

On a per unit basis,  the Fund lost $5.37 per unit in the first six-month period
of 2003 (with 20,754.23769640250 units outstanding at June 30, 2003) as compared
to a loss of  $6.20  per  unit  in the  first  six-month  period  of 2002  (with
23,906.51092006 units outstanding at June 30, 2002).

The losses from  operations  experienced in both the first  six-month  period of
2003 and in the first  six-month  period  of 2003 are  largely  attributable  to
losses from trading activity.

Discussion of Financial Condition: Liquidity and Capital Resources

At June 30, 2003 total member  equity was  $2,060,530  compared to $2,605,286 at
June 30, 2002, a decrease of 20.91%.  The decrease in total member equity can be
attributed to two factors:

          1.   The  net  of  amount  of  redemptions   exceeded  the  amount  of
               subscriptions during the year between the two periods. As of June
               30, 2002, the Fund had 23,906.51092006 units

<PAGE>


               outstanding. As of June 30, 2003, the number of units outstanding
               had dropped to 20,754.23769640250.  The drop in outstanding units
               was  largely  the result of an  increase  in the amount of member
               redemptions.  While  there  were  some new  member  subscriptions
               during the 12 month period (a total of 4,196.9221751119 new units
               were  purchased  for a  total  of  $434,265  in new  subscription
               revenue),  the total redemptions for the 12 month period (a total
               of  (6,472.08684462464)were  redeemed for a total net  redemption
               outflow of $749,590 greatly exceeded the new subscriptions.

               The situation encountered by the Fund during the 12 month period,
               namely an increase in redemptions  as compared to  subscriptions,
               can occur in any commodity pool when the fund encounters a period
               of negative or flat performance.  Such was the case during the 12
               month period when our fund  encountered a period of flat/negative
               performance.  Although  every  effort is made to educate  members
               regarding the  long-term  nature of an investment in the Fund, it
               is not unusual for members to become  anxious  during  periods of
               negative   performance.   This  anxiety  often  leads  to  member
               redemptions,  as it did during the time between June 30, 2002 and
               June 30, 2003.

          2.   The fund sustained losses from trading and operations  during the
               year  between  the two  quarters.  From  July 1, 2002 to June 30,
               2003,  the  Fund  experienced   total  losses  from  trading  and
               operations  of  $138,928.   This  loss,  combined  with  the  net
               redemptions during the period, accounted for the reduction in the
               Fund's net asset value.

The cash balance at June 30, 2003 was $99,346,  compared  with  $196,596 at June
30, 2002. The Fund withdrew  approximately $519,369 from the clearing FCM during
the first six-month period of 2003.

                            PART II-OTHER INFORMATION

Item 1.        Legal Proceedings.

               None

Item 2.        Changes in Securities

               None

Item 3.        Defaults Upon Senior Securities

               Not applicable.

Item 4.        Submissions of Matters to a vote of Security Holders.

               None

Item 5.        Other Information

               None

Item 6.        Exhibits and Reports on Form 8-K.

               None

               There are no exhibits to this Form 10-QSB.


<PAGE>


PART III

Item 1.  INDEX TO EXHIBITS

Sequentially
Numbered
Page        Exhibit No. Exhibit
----------  ----------  -------

            3(i)        Form of Certificate of Limited liability company
                        interests*
            3(ii)       Operating Agreement, as amended, dated November 30,2001*
            10(i)       Advisory Agreement between Hanseatic Corporation and
                        Hanseatic Discretionary Pool, L.L.C.*
            10(ii)      Amended Advisory Agreement*

*  Heretofore  file as an exhibit to the  registration  statement  on Form SB-2,
filed by the  Fund  (Commission  File No.  33-64718)  and  incorporated  by this
reference.

Upon  request,  the Fund will  furnish a copy of any Exhibit to this report upon
payment of reasonable copying and mailing expenses.


                                 CERTIFICATIONS

The undersigned, severally, certify that:

1.       We have reviewed this  quarterly  report on Form 10-QSB for the quarter
         ended  June  30,  2003  of  the  Hanseatic   Discretionary   Pool,  LLC
         ("registrant");

2.       Based on our  knowledge,  this  report  does  not  contain  any  untrue
         statement of a material fact or omit to state a material fact necessary
         to make the statements made, in light of the circumstances  under which
         such  statements  were made, not misleading  with respect to the period
         covered by this report;

3.       Based on our knowledge,  the unaudited financial statements,  and other
         financial  information  included in this report,  fairly present in all
         material  respects the financial  condition,  results of operations and
         cash flows of the  registrant as of, and for, the periods  presented in
         this report;

4.       We are responsible for establishing and maintaining disclosure controls
         and  procedures  and internal  controls and  procedures  for  financial
         reporting  (as defined in Exchange Act Rules 13a-14 and 15d-14) for the
         registrant and we have:

         a)       Designed such disclosure  controls and  procedures,  or caused
                  such  disclosure  controls and procedures to be designed under
                  our supervision,  to ensure that material information relating
                  to the  issuer  is made  known  to us by  others  particularly
                  during the period in which this report is being prepared;

         b)       Designed such internal  controls and  procedures for financial
                  reporting, or caused such internal controls and procedures for
                  financial reporting to be designed under their supervision, to
                  provide reasonable assurances that the registrant's  financial
                  statements are fairly  presented in conformity  with generally
                  accepted accounting principles;


<PAGE>

         c)       Evaluated the  effectiveness  of the  registrant's  disclosure
                  controls and procedures  and internal  controls and procedures
                  for financial reporting as of the end of the period covered by
                  this report ("Evaluation Date");

         d)       Presented   in  this   report   our   conclusions   about  the
                  effectiveness  of the  disclosure  controls and procedures and
                  internal controls and procedures for financial reporting based
                  on our evaluation as of the Evaluation Date;

         e)       Disclosed to the registrant's auditors and the audit committee
                  of  the  managers  (or  persons   fulfilling   the  equivalent
                  function):

                  (i)      All significant  deficiencies and material weaknesses
                           in the design or operation  of internal  controls and
                           procedures  for  financial   reporting   which  could
                           adversely affect the registrant's  ability to record,
                           process,  summarize and report financial  information
                           required to be  disclosed  by the  registrant  in the
                           reports  that it files or  submits  under the Act (15
                           U.S.C.   78a  et  seq.),   within  the  time  periods
                           specified  in  the  U.S.   Securities   and  Exchange
                           Commission's rules and forms; and

                  (ii)     Any fraud,  whether or not  material,  that  involves
                           management or other  employees who have a significant
                           role  in  the  registrant's   internal  controls  and
                           procedures for financial reporting; and

         f)       Indicated  in  this  report  any  significant  changes  in the
                  registrant's  internal  controls and  procedures for financial
                  reporting or in other factors that could significantly  affect
                  internal controls and procedures for financial  reporting made
                  during  the  period  covered  by this  report,  including  any
                  actions taken to correct significant deficiencies and material
                  weaknesses   in  the   registrant's   internal   controls  and
                  procedures for financial reporting.

Date:    August 4, 2003


                           /s/ Simcha Bluth
                           -------------------------------
                           Simcha Bluth, President and Chief Executive Officer


                           /s/ Randall Shell
                           ----------------------------------
                           Randall Shell, Vice President and Chief
                           Financial Officer

In connection with the pool's  unaudited  financial  statements for the quarters
and six-month  periods  ended June 30, 2003 and June 30, 2002  contained in this
Quarterly Report (the "Financial Statements"),  the undersigned Simcha Bluth and
Randall  Shell,   Chief   Executive   Officer  and  Chief   Financial   Officer,
respectively,  of Pool Management  Services,  Inc.,  Commodity Pool Operator and
Manager of Hanseatic  Discretionary  Pool,  LLC,  certify  pursuant to 18 U.S.C.
Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002, that,
to the best of their respective knowledge:

         (1)      The  Financial  Statements  comply  with the  requirements  of
                  Section 13(a) or 15(d) of the Securities Exchange Act of 1934,
                  as amended; and

         (2)      The information  contained in the Financial  Statements fairly
                  presents,  in all material respects,  the financial  condition
                  and results of operations of the pool.


<PAGE>



August 4, 2003


                           /s/ Simcha Bluth
                           -------------------------------
                           Simcha Bluth, President and Chief Executive Officer


                           /s/ Randall Shell
                           ----------------------------------
                           Randall Shell, Vice President and Chief
                           Financial Officer

                                   SIGNATURES

In  accordance  with the Exchange  Act, this report has been signed below by the
following persons on behalf of the Fund in the capacities indicated on August 4,
2003.

                                    HANSEATIC DISCRETIONARY POOL, L.L.C.

                               By:  POOL MANAGEMENT SERVICES, INC.
                                         Managing Member

                               By:  /s/ Randall Shell
                                    ---------------------------
                                    Randall Shell, Vice President
                                    and Chief Financial Officer




Signature                 Capacity                             Date
----------                ---------                            ----


/s/ Simcha Bluth          President, Director              August 4, 2003
----------------------    of the Managing Member
Simcha Bluth


/s/ Randall L. Shell      Chief Operating Officer,         August 4, 2003
----------------------    Chief Financial and
Randall L. Shell          Accounting Officer,
                          Director of the Managing
                          Member