Global Rates

Appreciation: Congradulation to the IT team headed by Jeremy Wong and Francis
Lim for the outstanding work in revising the Global Rates posting processes
performed by Eduardo Calderon and Cecilia Cheung. As a result of the
revisions the following is now possible:
CQG and Telerate is now a back-up for Reuters in posting daily settlement
prices for options and futures for all commodities.
The revised spreadsheet is more user friendly with the ability to download
prices immediately after settle prices are known.
Errors can be corrected without IT assistance.
Cross-checking vendors settlement prices for accuracy can be done without the
usual delays.
Adding and revising commodity terms can now be performed by global rate
personnel instead of an IT function.
Finally, end-users satisfaction has been improved to nearly 100%.

Again, thank you guys for a job well done.

Willie Harrell
Global Rates