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Enron Mail |
-----Original Message----- From: Doug York <doug@Campbell.com<@ENRON Sent: Tuesday, November 20, 2001 10:16 AM To: Abramo, Caroline Cc: Arturo Hidalgo; Terri Becks; Dick Bell Subject: Enron EFS issues Thanks for taking the time to put this PowerPoint presentation together to better outline the flow. It helps us discuss it internally. Recently our internal compliance folks have discussed the "give-up risk". Specifically, what guarantee do we have that the executor's (Enron) FCM will accept the block trade and get it to the exchange on behalf of our clients? There is some concern that there might be limits imposed by the FCM due to issues such as credit and the high volatility of NG. They have requested we sign a four (or more) party give-up agreement between Campbell, Enron, your clearing firm(s) and our clearing firm(s). Is this the SOP as you envision the NYMEX EFS? We are at the point where the specific documentation issues are the main obstacles to moving forward. If we buy 1,000 NG from you, how do we know your FCM can guarantee acceptance of the trade for further give-up? Your legal feedback is welcome. Thanks, CDY ======================================================== The information transmitted in this email is intended for the named addressee(s) only. As this email may contain confidential and/or privileged information, if you are not the intended recipient, you are not authorized to retain, read, copy or disseminate this email or any part of it. If you received this email in error, please contact the sender and permanently delete the email and any attachments. Unless expressly stated, opinions in this email are those of the individual sender and not of Campbell & Company, Inc. - EFS.ppt
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