London originated financial transactions: DAPSA and Sempra

London traders are transacting from London in the names of both ECT(Houston)
and ECTRIC(London) with DAPSA and Sempra. The deal tickets are still being
sent to Houston for confirmation preparation (rather than from London where
the trade is actually consummated). With respect to Sempra, we were
previously advised that Sempra would not transact directly with ECTRIC absent
a Master but this cannot be accurate because some Sempra deal tickets recite
ECTRIC's name.

This message is FYI if there are no regulatory issues involved.

Houston will certainly document back-to-back internal transactions.

Sara