Reuters on NYMEX

Andy,

Unfortunately, the only stick we have in this game is increasing the total number of subscriptions to a price point whereby NYMEX passes.

We may as well capitalize on this because:
We can't not sell them terminals (Access will be available if the floor traders want it-- IF THEY WANT IT, THEY WILL GET IT.)
The large spread traders already know where ENE is at
Our competitors have been playing the EnronOnline/ floor arbitrage game since day one (it was part on our success)

REUTERS ABILITIES:

1. Reuters has the right to limit "wall board" availability; NYMEX has the right to buy terminals from Reuters
2. Reuters will request "consistency"; in regards to pricing, re-distribution, etc
3. Do not have the capability of breaking up the data set

OPINION:

Sell it. 25K per month. Unlimited enterprise license.