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Enron Mail |
Here are my draftversions of the weather GTC's. Since Enron North America
will be the Enron contracting entity for all of the transactions, I have expanded the documents to allow for European as well as U.S. transactions and to allow for multiple weather station (index) deals or single weather station deals. The option forms work for either a put or call but that has to be specified on the web site. I think it would make sense for one of the weather commercial people to take a quick look at the forms to make sure they agree that they work. I'm hoping to sit down with Mark Dilworth in the morning to make sure the long descriptions are complete - when you look at these forms, it is clear that a number of defined terms have to be covered on the web site: Premium, Effective Date, Termination Date, Reference Weather Station(s), Fallback Reference Weather Station(s), Reference Basis, Reference Degrees (C or F), Strike Amount, Notional Amount and Maximum Payout Limit are the terms I have identified so far. Please Note - these are NOT ready to be uploaded to the system! There are blanks for the weather agencies for the European deals - these are not referenced in the earlier UK drafts and I don't know who the appropriate agencies are. I have not spelled out the data sources for the European transactions either. Mark
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