This paper introduces a new current mode component called Modified Current Differencing Transconductance Amplifier (MCDTA). Important parameters of the circuit i.e. input resistance, z terminal resistance and transconductance of the output stage can be tuned electrically. The circuit can be implemented in linear and non-linear analog signal processing. The paper presents an example of the MCDTA application - a complete quadrature oscillator with the amplitude regulation. The functionality of the example circuit and its tuning capability were proved by the SPICE simulation results.