  A new formulation of four dimensional quantum field theories, such as scalar
field theory, is proposed as a large N limit of a special NxN matrix model. Our
reduction scheme works beyond planar approximation and applies for QFT with
finite number of fields. It uses quenched coordinates instead of quenched
momenta of the old Eguchi-Kawai reduction known to yield correctly only the
planar sector of quantum field theory. Fermions can be also included.
