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Enron Mail |
Billy
We need to hedge funds. ----- Forwarded by John J Lavorato/Corp/Enron on 01/22/2001 10:00 PM ----- Caroline Abramo 01/22/2001 12:18 PM To: Andy Zipper/Corp/Enron@Enron cc: Per Sekse/NY/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron Subject: EOL/ Hedge Funds Most of the macro hedge funds want to trade global crude products and gas options immediately. However, I am having a big problem getting Tudor and like funds up and running on EOL- Problems: #1: Credit- major back-log on new names - we don't have enough resources to deal with these names (the structures of the funds can be complex- not like dealing with industrials). #2: With those that we have docs, credit has said we can not trade on-line. (???) The only differences I see with funds trading online is that their trades need to go to credit's (Bill Bradford's group) to be included in daily MTM and 5 day VAR reports. We calculate variation margin off these reports so its essential credit gets the trades... AND In the case of Tudor, they allocate trades between funds- the EOL trades would need to go to me or the backoffice, so we could allocate them. I think the EOL reporting issues can easily be resolved- the credit back log is the real killer at the moment. Rgds, Caroline Andy Zipper 01/22/2001 11:15 AM To: Caroline Abramo/Corp/Enron@Enron cc: Subject: Re: Now that gas options have been launched how are they being received ? Have you been able to convince any funds to trade. I've heard that Tudor is a huge player. where do they stand ?
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