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Enron Mail |
In response to your voice-mail:
(1) UBS/Enron Australia/Macquarie put option on sugar -- am coordinating with Jeff Blumenhal (tax) and w/ David Minns in Sydney (2) OTC options -- (a) control procedures for traders (b) revision to "trade option" rep in master/confirms © training of confirm personnel (3) Enron Online -- rolling out in January sugar/coffee/cocoa swaps tied to NYBOT and LIFFE prices, as well as basis swaps; coordinating w/ Trena McFarland; one issue: what is proper Enron entity for trades done out of London? leads into . . . (4) Trading out of London -- consult with UK counsel re (a) what special restrictions, if any, exist re derivatives based on ag commodities (start with UK/EU; will eventually need to look at other European jurisdictions) (b) should we use UK Enron entity rather than U.S. entity (i.e., are UK capitalization requirements preferable to U.S. law restrictions on ag options). I have conference call scheduled w/ Mark Evans to discuss efficient use of outside UK counsel on this. Obviously our tax department will also be closely involved in considering these issues. (5) Physical transactions -- one prototype has been developed for grains, another for meats -- Billy Lemmons will head the origination group on this. Sometime after Thanksgiving, he and I will go to Chicago to meet with Sidley & Austin -- we will present these prototypes to them and ask them to scrub the legal issues. (6) International physical transactions -- Consult w/ Alan Aronowitz re expertise for GATT, WTO, EU and other international trade issues involved Robert E. Bruce Senior Counsel Enron North America Corp. T (713) 345-7780 F (713) 646-3393 robert.bruce@enron.com
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