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Enron Mail |
To All -
I am working on a Net Works project called CommodityLogic - an internet based product which can be used to provide financial and logistical solutions for commodity transactions. The basic use of the product is to assist mid and back office personnel with the completion of transaction details such as confirmations, nominations and invoice reconciliations. At the current time, the project is moving forward with four or five modules, each focused on a different aspect of mid and/or back office operations. The module of primary concern (from a "legal buy-in" standpoint) is a module entitled ConfirmLogic. The basic idea behind this module is to enable counterparties to a commodity transaction to complete the confirmation process electronically through an electronic matching system - matching information obtained from both parties to the transaction. If the information matches, the CommodityLogic concept is that no further action will be required by either party to confirm the transaction. If information is "published" to CommodityLogic by only one party to a transaction (such that the automatic matching function is not activated), the other party my manually within the electronic module match or confirm the transaction information by clicking on the appropriate button within the module, thereby confirming the transaction information and alleviating the need for any further confirmation action between the parties. This system will present the opportunity to move away from written confirmations and enable both parties to a transaction to accomplish the same manner of confirmation electronically. Whether or not this will be an acceptable legal method of confirming transactions within the Enron environment is the key question I have been asked to address with each of you relative to your specific trading areas. Accordingly, I am going to be setting up a meeting later this week to discuss the project in a bit more detail and to canvass the general opinions/questions/concerns each of you may have. I intend to have CommodityLogic personnel available to address specific questions about the product. If any of you should have any questions, please feel free to call me. Thanks. Mark Senior Counsel, ENA Phone: 713-345-8897 Facsimile: 713-646-3940 E-Mail: Mark.Greenberg@enron.com
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