QUESTION: David, Mark Taylor asked me to talk to you about getting your ISDA Masters inputted into our Financial Trading Database. This databse is the central master database where we keep records of the financial agreements in either draft form or that have been executed. London currently updates this database to manage its (and Singapore's) financial contracts and I would like to get the Australian agreements plugged into the system. This database serves a number of purposes. First, it is our core memory of contract negotiations. Anyone in Legal and Credit around the world can take a look at this database and determine who we have entered into contract with and what negotiation issues may be at issue. It is critical as we become a global trading company that we are consistent in the legal positions we take on these financial contracts. For instance, it would be quite problematic if someone in Houston was negotiating a contract with an ISDA counterparty and asserted that a certain position was critical, if we find out a lawyer in another office was negotiating with the same counterparty and gave on the same position the day before. We need to make a somewhat coordinated effort on the counterparty front. In addition, with so many masters and so many counterparties there is just no way to keep track of what we have said or done unless we have a database. Further, we use the information in the database to respond to inside auditing, reporting and insurance inquiries. For online trading, I check the database to see if we have a financial master agreement and what trading restrictions we may or may not have in place. Global contracts uses this database to confirm their financial contract records and approval for online trading. For both Houston and London we use the database to communicate with our Clients, whether traders or back office support people. Employees outside legal have limited view access only to see all the information except the confidential Legal and Credit comments. They have no edit capabilities. The database also has some reporting functions that we and London Legal have found helpful. You should have gotten my email to Mike Neves, out database coordinator requesting full edit access for you. It usually takes a few days. Once you get access maybe you could find some time to surf the database, and we can figure out how to get your ISDA data inputted.. Are you coming to the ENA Legal Conference in October? That would be a good time for me to do a full review of this database with you.
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ANS: Financial Trading Legal Database
Please don't use this yet. Refinements are underway by Alan Comnes, but wanted to give you a flavor for how underwater the DWR contracts are (if marked to market today). Jim's got it , too. Based on recent curves, $21B of the DWR contracts are stranded. Will give you the update once it's done (likely tomorrow). Best,
Q: What is a potential subject line for this email?
answer: DWR's Stranded Costs
Matt and Denis, Can you help us with this NDA we need executed for an EnronCredit. meeting on Monday? If you could print it out on EnronCredit.com letterhead and have Denis initial it for signature. Because of time, Leslie can't initial this before we execute it, but we promise she will initial it before we send it out to the customer. Then, can you have it executed by an officer of EnronCredit.com and return it to me at fax nol 713/646-3490. Thanks for your help!
Answer: ERS NDA
Here is an email: Here's a draft of a research memo on options. While I am hopeful that we can overcome FERC's policy on reservation of capacity, our arguments obviously need to be developed a little more before we can do that. I know the business folks are anxious to hear our strategy. I would appreciate your comments on the attached.
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A: Options for TW Capacity
Q: How are things going? Learning lots? Went to the rodeo and then to Nashville North yesterday so feeling a little fuzzy today. I'm not doing anything today but tommorow I am going to the rodeo and then to a big industry party so that should be good for a headache. Friday I'm going to the Chick Wagon party and Saturday to Nashville North with the boys. Weather has been good and looks like that will continue. Did you find a gym yet? w/b Chris
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A: What's up?
Here is an email: Mark - Would you be available to sit down with me Monday morning (say beginning at 10:30) to go over the spreadsheet? I have quite a few comments on the financial transaction items that I was able to understand and several questions on areas I haven't yet been able to decipher. I am particularly concerned about the Weather Products generally and the Floating Prices for all financial products (the Index tab). If you could let me or my assistant know so I can work out my calendar for the day I'd appreciate it (I've blocked out 2 hours but it might not take that long). Unfortunately I'm leaving town mid-afternoon so I have to get these wrapped up. I'm at x37459. Thanks!
What is a potential subject line for this email?
A:
Long Descriptions Spreadsheet