<SUBMISSION>
<ACCESSION-NUMBER>0000950142-02-000946
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20021023
<ITEMS>7
<ITEMS>9
<FILING-DATE>20021023
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ACTRADE FINANCIAL TECHNOLOGIES LTD
<CIK>0000819255
<ASSIGNED-SIC>6153
<IRS-NUMBER>133437739
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-18711
<FILM-NUMBER>02795754
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>7 PENN PLZ STE 422
<CITY>NEW YORK
<STATE>NY
<ZIP>10001
<PHONE>2125631036
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>7 PENN PLAZA STE 422
<STREET2>7 PENN PLAZA STE 422
<CITY>NEW YORK
<STATE>NY
<ZIP>10001
</MAIL-ADDRESS>
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<FORMER-CONFORMED-NAME>ACTRADE INTERNATIONAL LTD
<DATE-CHANGED>19930518
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k-102302.txt
<DESCRIPTION>ACTRADE FINANCIAL TECHNOLOGIES LTD.
<TEXT>

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

                          -----------------------------
                                    FORM 8-K
                          -----------------------------

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


       Date of report (Date of earliest event reported): October 23, 2002


                       ACTRADE FINANCIAL TECHNOLOGIES LTD.
             (Exact name of registrant as specified in its charter)


         Delaware                         0-18711               13-3437739
         --------                         -------               ----------
 (State or other jurisdiction    (Commission File Number)     (I.R.S. Employer
     of incorporation)                                       Identification No.)


      7 Penn Plaza, Suite 422, New York, New York            10001
      -------------------------------------------            -----
        (Address of principal executive offices)           (Zip Code)

                                 (212) 563-1036
                                 --------------
              (Registrant's telephone number, including area code)



                       ___________________________________
                       (Former name or former address, if
                           changed since last report)



<PAGE>

Item 7.  Financial Statements and Exhibits.

         (c)    Exhibits.

         The following exhibit is being furnished pursuant to Item 9 and shall
not be deemed to be incorporated by reference into any other filings with the
Securities and Exchange Commission made by Actrade Financial Technologies Ltd.

         Exhibit No.              Description
         -----------              -----------
            99.1                  Press Release, dated October 23, 2002.

Item 9.  Regulation FD Disclosure.

         On October 23, 2002, Actrade Financial Technologies Ltd. issued a press
release which is attached as Exhibit 99.1 hereto and incorporated by reference
into this Item 9.


<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 hereunto duly authorized.


                                         ACTRADE FINANCIAL TECHNOLOGIES LTD.



Date: October 23, 2002                   By:  /s/ Joseph P. D'Alessandris
                                             -----------------------------------
                                              Joseph P. D'Alessandris
                                              Chief Financial Officer



                                  EXHIBIT INDEX


         Exhibit No.              Description
         -----------              -----------
            99.1                  Press Release, dated October 23, 2002.



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex99_1form8k102302.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>

                                                                    EXHIBIT 99.1
                                                                    ------------



                                  PRESS RELEASE

Actrade Financial Technologies Ltd. Appoints Interim CEO, Announces NASDAQ
De-listing Determination.

New York, NY - October 23, 2002 - Actrade Financial Technologies Ltd.
("Actrade") announced today that Richard F. McCormick has been appointed Interim
CEO. Alexander C. Stonkus has taken a paid leave of absence from his positions
as President and CEO of Actrade.

Mr. McCormick has over twenty years of experience in investment banking and
financial consulting. His prior experience includes positions with PaineWebber
Incorporated and Kidder, Peabody & Co. He graduated from the University of
Southern Connecticut in 1978 with a B.S. in economics and accounting, and
received an M.B.A. from Pace University in 1980.

Actrade also announced today that on October 17, 2002 it received a NASDAQ Staff
Determination indicating that Actrade's common stock no longer qualifies for
inclusion in The NASDAQ Stock Market, and that Actrade's common stock is
therefore subject to de-listing from The NASDAQ National Market. The letter
notifying Actrade of the Staff Determination cited Actrade's inability to file
its Form 10-K for the fiscal year ended June 30, 2002, and public interest
concerns raised by anonymous allegations relating to possible irregularities and
other alleged improprieties in the operations conducted by Actrade and its
subsidiaries.

Actrade has requested a hearing before a NASDAQ Listing Qualifications Panel to
review the Staff Determination. Actrade's common stock has not traded on The
NASDAQ National Market since 5:25 p.m. on August 22, 2002, when trading was
halted for "additional information requested" from Actrade.



</TEXT>
</DOCUMENT>
</SUBMISSION>
