Electronic Delivery of ISDA Documentation

Mark, I was looking for your comments on this memo. Thanks. Mark H
----- Forwarded by Mark E Haedicke/HOU/ECT on 08/14/2000 02:40 PM -----

Robert Pickel <RPICKEL@isda.org<
08/11/2000 02:16 PM

To: Bryan Murtagh <Bryan.Murtagh@ubsw.com<, Chip Goodrich
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cc: Angela Papesch <apapesch@isda-eur.org<, Corrinne Greasley
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Subject: Electronic Delivery of ISDA Documentation

ISDA will soon be in a position to make its documentation available
electronically. I know that many of you have been advocating this for awhile
so I am happy to say that the day will soon be here. In anticipation of
that, I would appreciate your input on how the documentation is made
available and, in particular, the pricing of that access.

For anyone other than an ISDA member, the documents will be made available
in electronic PDF form for purchase on a per document basis. For members,
two additional options will be made available for access to interactive
versions of the documentation: an internet version and an intranet version.

The internet version will consist of the complete library of ISDA
documentation in an interactive version also in PDF format. The documents
will include internal links within documents (section reference to the
section itself, use of a defined term to its definition) as well as links to
User's Guides that have been published for a particular document. We propose
that the pricing of this option will be on a per user annual fee basis.

The intranet option will permit users to take the full library of ISDA
documents and place it on a firm's intranet, thereby providing access to
anyone within the firm who has access to the intranet. ISDA would charge a
fixed annual fee for this service.

I would appreciate your responses to the following questions:

1. Ignoring cost, do you think your institution would be more likely to use
the internet version of the documents or take them onto your intranet?

2. If you are more likely to use the internet version, how many users would
you anticipate worldwide within your institution?

3. For the internet service, would you prefer to pay (a) a high initial fee
for the first user (e.g., $5,000) and a small additional fee for each
incremental user (e.g., $100) or (b) a lower initial fee (e.g., $3,000) and
a larger additional fee for each incremental user (e.g., $500)? Assume for
these purposes that the cost of the intranet service is $10,000 per annum.

4. Would your answer to question 3 change if the cost of the intranet
service were $15,000?

I will not hold you to any of these answers. I just hope to get your input
as we proceed to further consideration at the Board level of how electronic
delivery of documentation will work and how it will be priced.

Thank you for your input.

Bob Pickel