postbot/aeslc_kw huggingface dataset:
Subject: Online Derivatives Trading with Regulated Utilities

We have not decided "to prevent any regulated utility from completing any  financial transactions" online.
If we have already satisfactorily concluded  the necessary due diligence with respect to a particular utility, they will  be approved.
It is only with respect to those utilities which have not yet  been researched that we are withholding approval.
The due diligence required  involves asking the utility for certain information concerning their  organization and regulatory situation, hiring local counsel in the relevant  state and having research done into the laws and regulations in place there  and into any public utility commission orders respecting the particular  utility in question, and on occasion requesting an opinion letter from the  utility's counsel.
We usually begin that process only when a trader believes  there is a likelihood of a sufficient volume of trading with the utility to  justify the time and expense.
FYI, the due diligence process has in the past  revealed circumstances which prevented the utility from trading derivatives  or required actions to authorize such trading which had not been taken.
A recent count showed about 10 executed master agreements and another 30 to  40 in one stage or another of the due diligence/negotiation process.
Louise Kitchen
Subject: Procedures for New Product Type Approval

How does the New Product Type Approval process work?
We have received  several test messages but it is not clear how we look beyond the short  description in the e-mail to see the long description (can the short  description be set up as a hyperlink to the web-site?)
or how we are supposed  to respond (my attempted reply was rejected as undeliverable).
Subject: Good Morning!

I was glad to see that the next Monmouth meeting was rescheduled for a time  other than December.
I guess Monmouth is a little harder to get to than  Chicago but it will be nice to see the campus again.
I'm going to be in New York Nov. 1 & 2.
Any chance of getting together?
Mark
Subject: Hi Greg!

We are getting very excited about the BVI.
It's hard to believe it's only 5  weeks away.
I try to think about it whenever the stock market gets me  depressed (which is happening with altogether too much frequency these  days).
I see you guys got hit with a triple whammy today.
Oh well, can you  say "buying opportunity"?
I'm coming to NYC for a conference in a couple of weeks - any chance you guys  are free for dinner on Sunday the 31st?
We also need to talk about $  sometime soon since I made the final payment on the boat a couple of weeks  ago.
Have you made your hotel arrangements (we still have a room reserved  for you for the night of the 20th which you won't need if you've made other  arrangements - and we can always get you a room there for the last night if  you want)?
And there's still the beverage list (you did get my fax, didn't  you?).
T. sends regards.
Hope you're well and not letting the market roller-coaster  get you down (my mantra is "think long term, think long term, think long  term").
Mark
Subject: EOL Simulation

Today's simulation has been postponed to next Wednesday.
Unfortunately, they  have not yet opened the system to the entire web - you have to be on the  Enron intranet to get access.
If you want to see it badly enough, I might be  able to arrange something for you in our NY office (midtown) otherwise I'll  let you know when they roll it out onto the web.
Mark
Subject: Dinner 11/1/99

Let's go for dinner Monday night.
With any luck I'll be able to get to the  airport for a plane back to Houston Tues. night.
"Mark_Kopinski/INTL/ACIM/americancentury"@americancentury.com on 10/14/99
Subject: Dinner

I feel confident putting myself in your hands.
As long is it's not  stratospheric, I should be able to get Enron to pick up the tab.
Please go  ahead and book whatever you think would be good.
Just let me know when &  where to go!
"Mark_Kopinski/INTL/ACIM/americancentury"@americancentury.com on 10/21/99
Subject: Enron Entity for Financial Trading

Lucy:  Tana tells me you are looking for some guidance as to which Enron entity  should be used for booking trading transactions with various counterparties.
There are a couple of general rules that apply to "normal" trading  circumstances and I'll spell them out below, but remember that these are not  hard and fast rules and may go straight out the window when circumstances  vary (even just a little bit) from "normal."
For example, abnormal  situations exist where the trading transaction is in connection with another  transaction with an Enron company (e.g.
a financing or equity investment),  the counterparty has a legally justifiable desire to trade with a certain  Enron company, the product being traded is only traded by a particular Enron  company or the counterparty is in a jurisdiction outside the country where we  are trading (except as spelled out below).
Having said all that, the  following rules (generally tax driven) can be used as general guidelines:  1.
If there is no master agreement in place between the counterparty and an  Enron company, the trade should be entered into on behalf of the Enron  company based in the country where the Enron trader is when the trade is  concluded and, if there is any hope of further trading with the counterparty,  Credit and Legal should be notified to negotiate a master agreement.
Of  course, if the counterparty is outside the country where we are trading,  Legal should be consulted ahead of time (there are some countries where  derivatives are actually illegal, special procedures must be followed or  can't be done by us from the U.S.).
2.
If there is a master agreement between the counterparty and either ENA or  Enron Canada, and the Enron trader is in the U.S. or Canada, the trade should  be entered into by the trader on behalf of the Enron company that is party to  the master agreement.
If the trader is outside of the U.S. or Canada, other  rules may apply.
3.
If there is a master agreement between the counterparty and ECT  International (usually only European counterparties), and the Enron trader is  in the U.S. or the U.K., the trade should be entered into by the trader on  behalf of ECT International.
Note that there are special considerations if  the trader is in the U.K. based on U.K. regulatory issues (the trade is  actually "arranged" by Enron Europe Finance and Trading Ltd. on behalf of ECT  International).
If such a master exists but the trader is not in the U.S. or  U.K., the trade should be handed off to a trader located in one of those two  countries for final negotiation and execution.
It would be a good idea to  consult with Legal or Tax if this comes up for more specific advice.
These general rules relate to which Enron entity should be the legal  counterparty to the transactions.
This doesn't determine where within the  Enron family the actual risk should ultimately reside.
If we want the risk  to be in an Enron company other than the Enron counterparty for contractual  purposes, an intercompany transaction should be booked (probably through RMT)  to get the risk in the right place.
Subject: European Reorganization

Tana forwarded the following message on to me since she will be out of the  office for the next week or so.
We are not familiar with any of these companies or their activities or  operations.
You might want to check with Kate Cole's office to see what she  knows.
Subject: Lenny

Here's the current forecast for Lenny.
Shouldn't be  a major problem for us  but I feel for folks scheduled to go down there tomorrow and Thursday.
Bruce - we're still keeping our fingers crossed that your permit will come  through.
Are you sure you've got the right lawyer working on this?
Seems  like he ought to be able to shake it loose somehow.
Anything at all we can  do from here?
Subject: BVI Hotel Rooms

The Moorings people asked me to call back tomorrow when they'll have a better  idea about the storm situation - they canceled all of their charter starts  for today & tomorrow (no surprise) and she expected Thursday's to cancel  also.
They still have everything for the weekend scheduled to go out but  they weren't supposed to confirm any hotel rooms between now and Saturday.
They were able to confirm a room for you for Sunday the 28th (the day we have  to bring the boat back).
I'll let you know what happens when I get through  to them tomorrow.
Mark
Subject: Vice President Feedback Measurement Report

Please see the following note from Sheila Walton.
She has asked that the  forms be returned to her by November 25th.
They can be sent interoffice mail  or by e-mail.
Thanks,
Subject: Bomba's Full Moon Party

Bruce - I just had another thought (they come so rarely I feel a need to pass  them along as soon as it happens).
The Full Moon party we discussed before  is on Nov. 23.
Unfortunately it is in the BVI.
If your lawyer can get the  permit by Monday and Fed Ex it to us, we could still get over there (Bomba's  Shack is on the western end of Tortola - reasonably close to the USVI).
The  boat will have a cell phone but we won't have a number till Sunday at the  earliest.
Be sure to bring the lawyer's number so we can call him Monday.
Mark  P.S.
-  My sympathies on your day at Federal Plaza.
My imagination isn't up  to the task of conjuring how miserable that must have been.
Subject: Lenny

Good News:  Lenny weakening - max.
winds down to 130 mph and pressure rising Bad News:  The darn thing won't get moving - still just drifting a bit to the  north & east  It's hard to describe which islands we care about on those maps - they're all  so small they almost don't show up on the maps.
Luckily St. Thomas is to the  west and a bit north of Lenny's current position  Here is a San Juan radar image that has St. Thomas marked and one of th  recent forecasted path maps.
Subject: Christmas flights

I'm not sure which e-mail address you are using so I figured I'd send to both.
Here is my itinerary for Christmas travel:  Friday 12/24    Continental 4126  Leaves Houston 7:55 am  Arrives Cincinnati  11:20 am Sunday 12/26  Continentat 4122  Leaves Cincinnati 5:45 pm  Arrives Houston  7:25 pm  These are Continental Express flights - I don't know if that makes a  difference in terminals in Cincinnati or not - it does in Houston.
I got your message at home, my SSN is *********
Subject: Bandwidth Exchange article

Enron rings opening bell for bandwidth      exchange       By Corey Grice      Staff Writer, CNET News.com      December 2, 1999, 5:40 p.m. PT        The opening bell has rung for a new kind of exchange.
The currency?
Bandwidth.
A subsidiary of energy industry giant Enron, Enron Communications, today  opened the      doors to a bandwidth commodity exchange.
The company first announced its  intention to      sell space on high-speed networks as a commodity in May.
Traditional commodity exchanges sell goods like  oil, natural                             gas and grain.
Enron has taken this concept and  given it a                             telecommunications spin, offering space on  high-speed                             networks to communications carriers.
In the past, carriers looking to fill holes or  service gaps in                             their networks would have had to enter long-term  contracts                             with other carriers to fulfill their bandwidth  needs.
The                             exchange, Enron says, acts as a sort of middleman  for                             carriers to find short-term contracts or quick  fixes as they                             complete network construction or try to manage                             heavier-than-expected network traffic.
For example, Global Crossing plans to sell  capacity on a                             high-speed fiber optic link between New York and  Los                             Angeles over the exchange.
Enron also expects to start an international bandwidth trading market  next May.
Separately, RateXchange, a similar bandwidth exchange, demonstrated its  own      commodities trading system at a telecommunications conference in New  York today.
RateXchange predicts that the trading of bandwidth and other  telecommunications products      could become a $8 billion market by 2002.
Subject: Draft of the Supplement to the 1993 Commodity Derivatives  Definitions

Jeff:  Here are the draft definitions and the list of which companies are to review  which definitions.
They have asked for our comments by the 15th (next  Wednesday).
Please let me know if you have any questions.
Thanks!
Subject: Hi!

Sorry we've been out of touch lately.
We were on vacation (sailing in the  Virgin Islands) the week of Thanksgiving and were pretty busy getting ready  for it the week or two before that.
There was a big swim meet in San Antonio  last weekend that T wanted to see so we drove out for that (yawn).
I didn't even know you were leaving BA!
I knew you had been sort of looking  around for a while but didn't realize you had made a decision.
What's the  story?
We're planning to have people over (it's the egg nog time of year) on the  18th - I'm guessing 8 - 10 pm but we'll let you know the details.
Subject: Assignment Issue

I would like to consider some counterparty-specific agreement to solve this  problem.
What do you think of a side agreement among both KN entities and  Enron which specifies that a user ID and password have been issued to both of  KN's legal entities jointly and severally and that transactions for certain  products (e.g.
all financial products) entered into under that user ID and  password will be deemed executed by KN Trading (their financial trading  entity) and all others will be deemed executed by KN Marketing (their  physical entity)?
Do you see any problems here?
Issues re: joint & several  liability under the ETA but not the Transactions?
Let me know if you need further clarification of the problem.
I haven't run this by Louise yet - she may raise system or commercial  objections.
Mark
Subject: Christmas Eve Eve

Let me check with Mr. B.  I don't think we have any specific plans - probably  last minute shopping/wrapping.
We're both leaving on Thurs.
and returning on  Sun.
Subject: Fallback Regulatory Position

Mark H. has asked me to prepare an outline of an "acceptable" regulatory  framework for OTC energy derivatives that we could use as a fallback position  next year.
Here is a draft I've come up with.
Any suggestions?
Subject: Equity investment by ENA employee

This will summarize our conversation this morning in which you asked if there  was a problem with your purchase of an equity investment (through a private  placement) in an internet/communications company.
My response was that Enron  prohibits the trading by employees of (i) any security on the Restricted List  maintained by the Compliance Group, (ii) any security, instrument or  commodity within that employees area of responsibility and (iii) any energy  commodity.
I suggested that you contact Donna Lowry to confirm both my  understanding and that the security in question is not on teh Restricted List.
While I did not mention it on the phone, I should point out that it would be  unwise to take a position in a competitor of Enron's that would (or might in  the future) give you control or the appearance of control or influence over  the management of that competitor.
Subject: Photos

I received the attachment you sent to me at Christmas but was not sure how  well it worked for you to recieve them.
I took a roll of film to be  developed and they had a special on having the photos returned on a disk as  well as prints.
I though they were the Christmas pictures that I could send  to you right away - but it turns out it was an old roll.
Subject: Photos

I tried to send this to your juno address and it came back.
Just in case you  are home, I also received the following from the PR department a few minutes  ago: Be sure to watch Chairman and CEO Ken Lay on Fox News today.
He will appear  on "Our World" with Neil Cavuto at 4:30 p.m. CST to discuss Enron's year-end  financial and operating highlights.
Subject: Draft EOL Termination Letter

Here's a draft of a termination letter.
I'd be happy to see what everyone  thinks before we use it.
For instance, what tone are we aiming for?
If we  want to be all legal and hard-nosed, I can throw in ETA section references,  etc.
or if we want to be softer we can emphasize other trading opportunities  within Enron and possibly explain our reasons for the termination.
Let me know what you think.
Subject: MetLife info.

There are about 15 - 20 pages you would probably want to see.
If that's not  too many for you to receive I don't mind faxing it.
You can always call me  from the office with the fax number when you're ready - I can even leave it  with my assistant when I'm away from my desk in case you get her instead of  me.
It's finally winter here, too.
Of course that's nothing compared to you guys  - it might get down into the 30's at night and 40's in the daytime.
It's  only really bad when it's that cold and it rains.
Brrrr.
It was probably  pretty smart of Delta to send those planes to Cincinnati since as a hub they  could probably get them on connecting flights to wherever they were  originally headed more easily from there than anywhere else (of course a lot  were probably headed to NYC and the flights there the next day must have been  packed!).
Aside from a quick one-day trip to New York I haven't had to do any traveling  lately - I'll probably be going to Portland in early March and Amsterdam  mid-March.
I may try and get to South America sometime in February but  nothing is scheduled yet.
Love, Mark
Subject: Swap Documentation Seminar

Dear Schuyler:  It seems to me that you used to chair a seminar put on by the Euromoney people on swap documentation.
We used to send our new lawyers and more experienced paralegals to the introductory course and the more experienced lawyers to the advanced course.
It appears that Euromoney is no longer putting this on.
Are you doing something similar through another provider?
Mark Taylor
Subject: One Password - multiple legal entities

The system is certainly not set up to accommodate that now but we could  probably draft around it on a case by case basis.
It strikes me that while  we might be able to come up with a legal framework that would allow for this,  the credit considerations are more problematic.
I would guess that the back  office will also be unhappy about having to manually rearrange all of the  trades.
This really seems like it is similar to the Aquilla problem in some  respects.
When we suggested allowing one entity to trade for another, Credit  was quite concerned because the system wouldn't be able to check the  appropriate headroom.
I suppose Credit could just assign the lowest headroom  for any of the eligible entities to the entire relationship - would  that be  acceptable to everyone?
Another possibility is for the fund to set up a  master trading entity which does the trades with us and then does back to  back deals with whichever entities need the allocations.
That would let them  do a large transaction on EOL and then smaller transactions with the other  entities.
Of course, the master trading entity would need to qualify for  credit on its own somehow.
Guarantees from anyone other than the owner would  be difficult (upstream guarantee problems).
Subject: Emissions Credits Auction Site

We met with the commercial team this afternoon and I was able to piece  together the following:  Access to the auction site will be by clicking on a button on the EnronOnline  (note spelling) trading page.
Most users of the site will already be signed up for EnronOnline - both a PA  and ETA executed.
Other users will be given a user ID and password that give them "guest"  access to EnronOnline and trading access to the auction page.
On the auction page the users may submit their offers to transact (either to  buy or sell) with Enron.
The page will list a reserve price and identify the  number of credits to be auctioned.
We are willing to commit to transact up  to that number with the best bidders (at or beyond the reserve  price) but  may transact larger volumes if we choose.
Users' offers may be submitted at any time during the auction period (this  time frame remains a bit unclear - probably one day, possibly a week or more)  and must remain binding until the close of the bidding and determination of  winning bidders.
Certain uncreditworthy users may be required to post a deposit in the full  amount of their offer to buy.
It is not yet clear if we will publish the offers after the fact (maybe just  the winning offers - all without names of course) or even during the auction  period but we would like to have that option.
I'm sure I've missed a few points but that gives you the flavor.
Harry is  preparing the "GTC" for the actual purchases and sales - I assume based on  our standard contracts for these products.
We need to put the legal  framework together for the rest of it.
If the existing PA and ETA are  adequate, that would be great but I haven't reread them with that in mind.
We REALLY don't want to have to have existing users sign another piece of  paper.
It makes sense that the existing ETA covers some territory that won't  matter to users who only have access to the auction page (e.g.
references to  master agreements) so a stripped down version of the ETA for those  counterparties would make sense.
Can we talk on Monday?
Subject: New Products - Approval Requested

The second product listed here is physical.
It looks ok to me but I don't  really know - can you take a look and approve it or comment to Dale please?
Thanks!
Subject: Auction Procedures

Unless you object, we have decided to structure the auction site with the  "auction procedures" set out on the bid page, immediately above the "submit"  button.
As soon as the bid is submitted, the system will check to see if the  counterparty has already accepted the GTC's or has a master in place.
Here  is S&C's first draft of the procedures for an auction without a reserve  price, with no commitment to sell (or buy) and no disclosure of bids to other  parties.
It is my impression that this is the way the EnBank auctions will  be conducted.
Is that correct?
Any suggestions/comments?
Mark
Subject: Trading Attorney in Brazil

I wish it were more clear.
I am trying to get down there to talk to the  commercial people about the business direction and support we can provide but  until then I don't know that we should get their hopes up.
I had hoped to  come this week but Randy is here in Houston.
Maybe second half of next  week?
Do you know if everyone will be in those days?
(I was thinking Sao  Paolo Wed/Thurs and B.A.
Thurs/Fri).
Brent Hendry@ENRON_DEVELOPMENT
Subject: Credit Language

Collateral Arrangements.
Counterparty shall (at Enron=01,s request) either:=  (i)=20 within one Business Day of such request by Enron, provide to Enron a letter= =20 of credit in respect of Counterparty's obligations under any Transaction, i= n=20 such form and for such amount and from such issuer, as is acceptable to Enr= on=20 in its absolute discretion; or (ii) within such period as is specified by= =20 Enron, provide for the benefit of Enron a parent company guarantee in such= =20 form and for such amount as is acceptable to Enron in its absolute=20 discretion.
Failure so to provide such letter of credit or parent company= =20 guaranty shall constitute a default hereunder giving rise to the immediate= =20 right of termination by Enron under this GTC.
Subject: Counterparty access to EnBank

Justin - are the EnBank contracts physical or financial?
It seems to me we  should use the same customer profiles - that is if the contracts are  physical, then any counterparty which can trade physical UK gas should have  access.
If the contracts are financial, then any counterparty that can trade  UK derivatives should have access.
Mark