QUESTION: Attached is a red-line of the revised form against the form John S. sent me. Please advise of any comments as soon as possible. Kay In the interest of time I'm sending it out before I've reviewed it, so forgive the typos, etc.
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ANS: Co Op City EPC contract

QUESTION: Errol, I looked at your post ids 1405076 (Nov 16) and 1403081 (Nov 15). For a Gas daily swap deal, its gamma, vega, theta, rho, drift, 2nd order should be zero. The change between today and prior day comes from forward value of new deals, changed value of old deals, curve shift of old deals, and liquidation of old deals. We can put it in a simplified formula, Today Value - Prior Day Value = New deals + Changed Deals + Curve Shift - Liquidation of old deals If you look at the gas top page, its liquidation actually includes both existing deals and new deals. The liquidation value for existing deals are 444,192 and liquidation value of new deals is -33,500. The Liquidation of new deals does not contribute to the daily change, so we got -33,502 off here.
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ANS: adjustment of swap deals on GDaily top page

QUESTION: John: Let me know if you are ok with the following memo which would come from you and me to the traders and senior originators: Effective October 15, 2000, the retention period on tape recordings of trades done by telephone will be reduced from four months to one month. The tapes regarding significant transactions may be retained for such longer period as approved in writing by both the Head Trader and the General Counsel. Please propose those significant transactions on which you may wish to retain the tapes, prior to October 15, 2000, since the tapes on conversations older than one month will be destroyed on that date. If you have any questions, please contact Mark Haedicke or Richard Sanders. We are still looking at moving to recording only the deal terms -- but that
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ANS:
Retention Policy on Trading Tapes