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Enron Mail |
Ketan,
I do not know who Mike spoke to at Morgan Stanley. Do you agree that this is a statement that Morgan, Stanley would make? Would you please run the traps at Morgan to confirm but do not provide any info to Trading Edge until confirmed by me after I have received notification from Enron Legal that they are okay with this approach. Ketan, Mike Fowler will send you, Sara and I the name of whom he spoke with. Thanks. Sheila Sara, What do you think? ---------------------- Forwarded by Sheila Glover/HOU/ECT on 11/17/2000 05:26 PM --------------------------- Mike Fowler@ENRON 11/17/2000 05:07 PM To: Sheila Glover/HOU/ECT@ECT cc: Paul Pizzolato/HOU/ECT@ECT Subject: Trading Edge As you are aware, Jeff Kinneman would like to establish agreements for ENA and ECT Investments to begin online bond trading with Buy Side Direct and Trading Edge. Given that we will not provide 1) financial statements for ENA and ECT Investments, or 2) a guarantee from Enron Corp., Trading Edge has requested information from our prime broker Morgan Stanley in order to determine a limit for our Trading Edge activity. We intend to ask Trading Edge to establish a $25 million daily trading limit for our activity. Based on a discussion with Trading Edge, it appears that they would accept a qualitative statement from Morgan Stanley that this is not excessive based on our relationship with Morgan Stanley. Our account rep informed me that Enron has approximately $400 million of equity under management with Morgan Stanley. Jeff prefers not to provide specific trading statistics to Trading Edge, but would be comfortable with having Morgan Stanley state that our holdings are well in excess of the proposed daily trading limit. In addition, Morgan Stanley referred to a letter of good standing that they could provide on our behalf to Trading Edge. Our Morgan Stanley rep wanted to ensure that any request for information be approved by your area. Who from your area should I work with on this matter ? Please let me know if you would like to discuss. Thanks. Mike x39990
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