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Enron Mail |
Please see response from Craig Young
Justin ---------------------- Forwarded by Justin Boyd/LON/ECT on 24/10/2000 08:58 --------------------------- Craig Young 23/10/2000 18:03 To: Justin Boyd/LON/ECT@ECT cc: Alfred Pennisi/NYC/MGUSA@MGUSA, TJ Pimpinelli/NYC/MGUSA@MGUSA Subject: Re: Enron Metals Enron Trading Services Inc. will be acting as an IB/ FCM/Agent for internal and external clients EOL Futures Swaps I would anticipate that we will leverage EOL and our client relationships across most if not all of the commodities. Many of these commodities have historical futures arbitrage between NY and London ---- an arbitrage opportunity between markets and clients for Enron Base Metals Precious Metals Energy Softs Craig Young Justin Boyd 10/23/2000 09:29 AM To: Alfred Pennisi/NYC/MGUSA@MGUSA cc: Craig Young/NY/ECT@ECT, TJ Pimpinelli/NYC/MGUSA@MGUSA Subject: Re: Enron Metals Al I would be grateful if you could provide me with responses to Mark Taylor's questions. My e-mail further below should give you further background information. Thanks. Justin ---------------------- Forwarded by Justin Boyd/LON/ECT on 23/10/2000 15:28 --------------------------- From: Mark Taylor on 17/10/2000 09:19 CDT To: Justin Boyd/LON/ECT@ECT cc: Alan Aronowitz/HOU/ECT@ECT, Janine Juggins/LON/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT Subject: Re: Enron Metals Justin: Do you know what other business MG London Inc. is or anticipates doing with these same counterparties? It may make a difference if they are acting for these customers as an FCM. Mark Justin Boyd 10/16/2000 05:22 AM To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT cc: Janine Juggins/LON/ECT@ECT Subject: Enron Metals Gentlemen, I met with Craig Young (MG US) last week, who is keen to progress metals business with large US corporates (e.g. Anheuser Busch), on the following basis: o Assume ENA and US Corporate are existing parties to ISDA/Credit Support Documents (the "Master"). o ENA and US Corporate would agree to expand range of OTC products to include OTC metal derivatives under the Master. The principals to the metals trades would therefore be the US Corporate and ENA. These trades would however be "arranged" by MG London Inc. (an FCM) as "arranger" in the US for ENA. o Enron Metals Limited (EML) from London would agree to provide metals prices to ENA and/or MG London Inc. in the US, and in return receive a commission from MG London Inc. o ENA would back-to-back OTC metals derivatives with EML via an intra-group ISDA Master. Look forward to your views. Thanks. Justin
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