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Enron Mail |
Here's Trading Edge (the comments are from an internal Enron group). This is
a high priority. I'll review over the weekend and let's talk on Monday. Sara ----- Forwarded by Sara Shackleton/HOU/ECT on 09/08/2000 12:01 PM ----- Sara Shackleton 09/06/2000 09:12 AM To: Kaye Ellis/HOU/ECT@ECT cc: Subject: Trading Edge / Bond Link Agreement please print ----- Forwarded by Sara Shackleton/HOU/ECT on 09/06/2000 09:12 AM ----- Mike Fowler@ENRON 08/11/2000 01:33 PM To: Sara Shackleton/HOU/ECT@ECT cc: Laine Borgman/NA/Enron@Enron Subject: Trading Edge / Bond Link Agreement The IT Contract group has been involved in reviewing documents for Trading Edge's Bond Link online bond trading site. George Weber, who has since moved into another area, discussed various issues with Trading Edge early this year. Laine Borgman, a contract administrator in the IT Contracts group, has become involved in the Trading Edge review during the past week. Attached below are Trading Edge agreements and their responses to issues raised by IT Contracts. The primary issues Laine and I discussed yesterday are as follows: Jurisdiction: Our preference is Texas, but we would accept New York. Trading Edge's response is unclear, although I believe they will readily agree to New York. Indemnification (similar to issues with Buy Side Direct): Agreement assigns no liability to 3rd parties which the agreement describes as "providers of software". As Trading Edge is the nominal counterparty for all trades, this may be acceptable if the agreement held Trading Edge liable for settling trades. However, I do not see where section 11 addresses Trading Edge's liability for trades. We would also like assurances / liability regarding the accuracy of order and trade information. Limits of Liability: Review language in both the Access and TIPs agreements (per Trading Edge, they will not agree to modify the TIPs Agreement, which is dictated by a 3rd party). Assignment: Trading Edge's agreement does not allow Enron to assign the agreement to other parties. Initially, only EnronCredit.com personnel in Houston and possibly London would use Trading Edge's site, so this would not be an issue initially. Although we would prefer that the ability to assign be included, this issue could be addressed later as needed. Electronic Mail (#18): We do not want to accept email communication in the event of a lawsuit. From the tone of their previous response, I believe they will agree to include lawsuits in the definition of extraordinary matters, for which email will not be employed. Sara, how would you suggest we proceed with the Trading Edge review ? I will speak with Sheila Glover regarding the involvement of Credit and Risk Control in our request to utilize Trading Edge's trading platform. Thanks. Mike x39990 -----Original Message----- From: Jay Mortenson Sent: Friday, August 04, 2000 11:38 AM To: 'Mike Fowler' Subject: Trading Edgel legal stuff Hi Mike- Give me a call if you have any problems or questions. The bilateral access agreement is our main agreement. It references the online policies and the TIPS agreement, and I have included all of these documents. Regards, Jay Mortenson Sales Executive Trading Edge, Inc. 2425 Olympic Blvd., Suite 500E Santa Monica, CA 90404 310-442-6862 phone 310-314-9115 fax 310-990-1792 mobile jmorte@tradingedge.com www.tradingedge.com Bondlink(tm) Get The Edge. - enrside2-1.doc - BilateralAccess.pdf - ONLINE policies.pdf - TIPS Agreement.pdf
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