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Enron Mail |
Due to people being out of the office today we were not able to finalise a
response concerning procedures to enable us to approve potential counterparties to trade Australian Power Derivatives. This would include arrangements to cover both counterparties with a presence in Australia and those that do not. In the case of the later group I believe we can come up with a set of procedures to address credit, tax, regulatory and settlement requirements. As I mentioned this morning Sydney is the first "satellite office" to introduce EnronOnline. I would hope we can develop procedures that are robust enough to be used as a template by other Enron offices. I suspect tomorrow will also be a fairly demanding day with the press coming in for the launching of EnronOnline and a number of us heading down to Adelaide for Project Taipan. However settling this issue is major priority for us. We also spoke about procedures to approve Australian incorporated counterparties who seek access to other Enron products. I confirm that Tana will be forwarding details of them to me for legal clearance. I will arrange procedures to discharge this function when I am out of the office as a 24 hour turn around is required.
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