Re: Bond & Equity Trading

Paul:

It is true that there is no wall -- however, it is geographically separate.
The equity trading is the end portion of the floor. There are three hallways
that go to equity trading, each about 10 feet long. It would not be possible
to hear anything said outside of the equity trading area. Robert Bruce is
working on updating our policy and procedures in Houston and by copy hereof
ask him to update you.

Paul Simons
09/19/2000 01:53 PM

To: Mark E Haedicke/HOU/ECT@ECT
cc:
Subject: Re: Bond & Equity Trading

Mark

Thanks for the enquiry.

I've had discussions with Gary this week and am now working out how soft the
wall can be in light of that! I understand from Gary that in Houston the
Chinese walls are not as hard as I imagined ie no physical wall or separate
security pass system. Please confirm. Many thanks

Paul

From: Mark E Haedicke on 19/09/2000 13:45 CDT
To: Paul Simons/LON/ECT@ECT
cc:

Subject: Re: Bond & Equity Trading

What is the status of setting up Chinese Walls? Mark