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Enron Mail |
My comments/suggestions below in red. As always, I'm happy to discuss.
Dale Neuner on 01/25/2000 09:09:29 AM To: Mark Taylor/HOU/ECT@ECT cc: Subject: New Index - Please review Trading wants to conduct Basis Swaps of Last Day NYMEX vs the Gas Daily Average of ANR Louisiana. I've created the below language accordingly and would like for you to review. The words in BOLD were added to make this 'work'. Index: NYMEX HH L1/GD ANR LA Abbreviation: GD ANR-LA Sort Code: 1210 Description: The Fixed Price shall be the settlement price for the last scheduled Trading Day of the NYMEX Henry Hub Natural Gas Futures Contract, modified by the price submitted by the Counterparty on the website, for the applicable Determination Period. [Is this for the contract for delivery during the Determination Period - in which case maybe we should say "for delivery during the applicable Determination Period"?] The Floating Price for the applicable Determination Period shall be the average of the Daily Midpoint prices published on each calendar day during such Determination Period under the heading "Daily Price Survey" in the Louisiana - Onshore South, ANR section of Gas Daily, or if Gas Daily is not published on a calendar day is not a Business Day then the price used shall be the Daily Midpoint price published on in the next suceeding issue of Gas DailyBusiness Day. [Do we have a problem if the next price published is int he following calendar month?] Dale
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