RE: Systemic Market Risk to Follow NYMEX Failure

Nymex is a couple blocks away. I'm looking into the Herstadt risk....

-----Original Message-----
From: Buy, Rick
Sent: Wednesday, September 12, 2001 10:45 AM
To: Murphy, Ted; Port, David
Subject: FW: Systemic Market Risk to Follow NYMEX Failure

fyi- is nymex in world trade bldg? rick
-----Original Message-----
From: Brad.Horn@nuon.com [mailto:Brad.Horn@nuon.com]
Sent: Tuesday, September 11, 2001 11:30 AM
To: rbuy@enron.com
Subject: FW: Systemic Market Risk to Follow NYMEX Failure

Rick:
In light of recent events at the world trade center, Im concerned about the poitential for a systemic failure following the destruction of NYMEX. A quick note from you to confirm or deny would be appreciated.

For example, if NYMEX payments are delayed significantly, Im worried that a larger payment failure in the energy derivatives market might follow. In this scenario, Enron?s large NYMEX position could put it in jeoprardy. As a result, I would think you would know before others if a NYMEX clearing falure is in the works. Do you have any insight at this time into NYMEX payment performance?????