Re: Fx Products - Attachment Included

----- Forwarded by Brent Hendry/NA/Enron on 10/16/2000 11:40 AM -----

Dale Neuner@ECT
10/10/2000 07:54 AM

To: Savita Puthigai/NA/Enron@Enron, William Stuart/HOU/ECT@ECT, Steve
Jacobellis/NA/Enron@Enron, David Forster/Corp/Enron@Enron, Sheri
Thomas/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT,
Brent Hendry/NA/Enron@Enron, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Mark
Dilworth/LON/ECT@ECT, Jason Althaus/Corp/Enron@Enron, Amita
Gosalia/LON/ECT@ECT
cc:
Subject: Re: Fx Products - Attachment Included

Attachment included:

---------------------- Forwarded by Dale Neuner/HOU/ECT on 10/10/2000 07:50
AM ---------------------------

Dale Neuner
10/09/2000 05:48 PM
To: Savita Puthigai/NA/Enron@Enron, William Stuart/HOU/ECT@ECT, Steve
Jacobellis/NA/Enron@Enron, David Forster/Corp/Enron@Enron, Sheri
Thomas/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT,
Brent Hendry/NA/Enron@Enron, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Mark
Dilworth/LON/ECT@ECT, Jason Althaus/Corp/Enron@Enron, Amita
Gosalia/LON/ECT@ECT
cc:
Subject: Re: Fx Products

Things to do:

The language that was provided by William and approved by Sara Shackleton is
good; unfortunately, however, referencing the currencies in the Product Type
description creates a situation where we would need a new Product Type with
each new currency exchanged (something we should not do). So - I took a
stab at some 'generic' Product Type language that should allow us to
introduce other currencies - see attached. Brent Hendry has agreed to look at
this for us, as Sara is on vacation.

Brent, pay close attention to what's in bold; it's a belt and suspenders
approach to understanding who pays what, but may be considered redundant.

If we are going to treat this as a Physical Product, then we have the hurdle
of the 'Location' field to get over.
Mark Dilworth/Jason Althaus - for these Products, can we set the Location to
something like NULL and have the feild pull in no text (like the Strikes on
the Options)? (Something tells me we'll have to resort to something CHEEZY
!!)

Tomorrow Rob and I are going to try to set up a Conference Call to Amita. I
need to have a better understanding of what trading wants to offer so that we
make sure we're representing the right Enron Entity. When we set up the first
internal FX products, they were done with RMT b/c we knew our only customer
would be ECC and product would be CAD. I would be surprised if they're aren't
tax consequences associated with having ETRIC manage ENA Products.

We have not been trained on how the FX Manager works; perhaps someone can
educate us.

Dale

To: Dale Neuner/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT
cc:
Subject: Fx Products

fyi
---------------------- Forwarded by Melba Lozano/HOU/ECT on 10/09/2000 04:14
PM ---------------------------

Enron North America Corp.

From: Savita Puthigai @ ENRON 10/09/2000 04:13 PM

To: William Stuart/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT
cc: David Forster/Corp/Enron@Enron
Subject: Fx Products

Hi ,

Just so that everyone is on the same page:

As it stands now we need to create two internal products (Stack Manager)
USD/EURO, and USD/JPY, and two Fx link products ( Fx manager) USD/EURO, and
USD/JPY . These will be 24 hour products manged by London and Houston Fx
traders.
To overcome the numeric display issues volume will be in millions of dollars
and on the USD/JPY Fx link product we need to find a non-technical solution
to the number of decimal places that can be displayed both in the FX Manager
and the website.
We have the legal descriptions required for the internal products and per
William Sarah has approved them as is. Melba can you please check on it and
co-ordinate with William on building them.
Metals Traders should work with London Product Control to get the legal
descriptions and GTC's approved for the mteals products in EURO and JPY
Melba can you please co-ordinate with William and Jason to get the FX link
products set up in FX Manager . Once they are set up William and Shane should
co-ordinate with the metals traders to test that the links are working ok.

Thanks.

Savita