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.
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