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Enron Mail |
Mark,
We have identified an issue in the UK whereby we could sell an Option for Q3 (for example), which is really three 1-month options (July,Aug, Sept.). The option lanaguage needs to be clear that in the case of an option which has multiple election dates, the premium is paid up front for the set of options, but the payments which result from option settlement occur in each month during the option period. Justin and Edmund have suggested the attached. Do you want to modify the U.S. product descriptions in a similar way? Dave ---------------------- Forwarded by David Forster/LON/ECT on 14/09/99 15:36 --------------------------- Louise Kitchen 06/09/99 23:36 To: David Forster/LON/ECT@ECT cc: Subject: Weather Derivatives - Enron Online Market Description ---------------------- Forwarded by Louise Kitchen/LON/ECT on 06/09/99 23:39 --------------------------- Shari Stack 03/09/99 22:57 To: Awais Omar/LON/ECT@ECT cc: Tana Jones/HOU/ECT@ECT, Lynda Clemmons/HOU/ECT@ECT, Steven Vu/HOU/ECT@ECT, Louise Kitchen/LON/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT Subject: Weather Derivatives - Enron Online Market Description As per the request in your email today, attached please find a revised version of the Market Description for Weather Derivatives. I have run it by Lynda Clemmons and Steven Vu on our Weather Desk so consider the attached version approved by ENA Legal and Commercial. Kind regards, Shari Stack (Attorney for the Weather Derivatives Desk)
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