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Enron Mail |
Ken: Where can I find the CFTC's statement that the swap policy statement is
not available for agricultural trade options? We are in a "holding pattern" for the time being. No products have been developed. Thanks. Sara RAISLERK@sullcrom.com 08/04/2000 11:41 AM To: Sara.Shackleton@enron.com cc: Subject: Re: Trade Option Exemption With respect to agricultural trade options, the CFTC has specifically said that the swaps exemtion and the swaps policy statement are not available. I will call you. <<< <Sara.Shackleton@enron.com< 08/04 11:52 AM <<< Ken: In connection with our new product (and absence of any physical activity in that product), I have the following question: If neither ENA nor its counterparty is able to qualify as an offeree for purposes of the Trade Option Exemption (17 CFR Sec. 32.13, as amended) but each is an eligible swap participant (or better yet, each party has $10 million in net worth as per Sec. 32.13) can the option still be exempt from CFTC regulation under the Swap Policy Statement or any CFTC interpretive letters? I have concerns about not relying fully on the Trade Option Exemption but I also understood that the CFTC has informally said that the Swap Policy Statement provides a safe harbor for both swaps and options. I am available to speak at your convenience. Thanks. Sara [713/853-5620] ---------------------------------- This e-mail is sent by a law firm and contains information that may be privileged and confidential. If you are not the intended recipient, please delete the e-mail and notify us immediately.
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