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Enron Mail |
Hello Chris --
Some initial thoughts: The American Banking Association just sent a letter on the issue. (see attached) Their definition of financial electronic trading networks are entities that facilitate the trading, settling, or clearing of financial instruments, ATSs, and any other system the SEC or Congress may designate as well as other similar entities that may develop in the banking or insurance areas. Because the new jurisdiction of the Financial Services Committee is general in this area, our discussion on Friday speculated that jurisdiction for ECN's would be determined by product. For example, financial products would fall under the Financial Services Committee but that ECN's on other products such as agriculture or energy and metals may fall under separate committees such as Agriculture or Commerce and Energy. ISDA will be sending its own letter on the issue. We must decide if our recommendation should also include comments on the treatment of energy, metals and agricultural ECN's. If so, we must decide if we will recommend that all jurisdiction for ECN's (including energy, metals and ags) should reside in the Financial Services Committee or if this jurisdiction should reside in multiple committees. Hope this is helpful. RUTH and DON -- please add any additional thoughts. Thanks! Stacy -----Original Message----- From: Chris.Long@enron.com [mailto:Chris.Long@enron.com] Sent: Tuesday, January 09, 2001 9:38 AM To: scarey@isda.org Cc: Mark.Taylor@enron.com Subject: Electronic Networks?? Stacy - Good to talk to you Friday. You asked me if I could determine which Committee we would rather have handle "electronic trading networks" - either the new Financial Service Committee or the Commerce Committee. You referenced that financial service networks would come under the Financial Service Committee, but the energy and metals may stay under the Commerce Committee unless we made specific requests for the change. Could you please help me better understand what we are talking about in terms of Financial Service Networks and energy trading networks? I have an opinion on our ability to work with the respective Chairs, but need a better understanding of the definitional/policy issues we are looking at. Thanks - Chris (202) 466-9158 - Financial Services Committee jurisdiction 1-5.doc
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