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Enron Mail |
---------------------- Forwarded by Justin Timothy/ENRON_DEVELOPMENT on
21/11/2000 05:41 PM --------------------------- Justin Timothy 21/11/2000 05:35 PM To: Robert B Cass@ECT cc: Melba Lozano@ECT, Mark Tawney@ECT, Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christian Werner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Forster@ECT, Stephen H Douglas@ECT, Dale Neuner@ECT Subject: Hong Kong Weather G'day Rob, It has been decided, after discussions between Paul Quilkey (Enron Aust. CEO), Raymond Yeow (head trader), Christian Werner (EAF meteorologist) & Mark Tawney (head of weather desk - Houston) that Hong Kong weather, as listed on EOL with Enron Aust. as the Enron entity, is to be listed on EOL with Enron North America as the Enron entity & traded out of Houston in much the same way as Japan & Australian weather is currently traded out of Houston. The issues that we encountered when setting up HK wthr with ourselves as the Enron entity & that may affect putting the new product on the web at your end are as follows: GTCs - After speaking with Dale & Dave Forster and being informed of the capacity issues currently affecting the EOL database it was decided that we would create a more generic GTC for Australian weather which allowed us to annexe the Hong Kong weather products under the one GTC. We therefore did not have to create a new product type as the HK products now fall under the Aust. weather product types. You may need to do the same at your end. Legal - We received tax advice from PWC with respect to how we in Australia are affected by HK tax laws. I will forward the email from Heidi Mason dealing with this FYI. The HK Password Application that was previously on the web has now been removed due to concerns that we may be seen by HK regulators to be directly targeting HK investors with the aim of getting them to "invest" in our products, which may have undesirable legal implications. Again, I will forward the email from David Forster. Data - will be exactly the same as what currently appears for HK weather currently on the web, with the exception that the Enron entity will be ENA rather than EAF. Note, the products are currently offered in USD with the the Pay Unit as 500 USD & the Maximum Payout Limit is 50000 USD. This may differ for ENA HK weather. Credit - Existing counterparties will need to be reviewed & OK'd to trade HK weather in USD. Please give me a call if you have any questions. Cheers Justin PCG Sydney
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