The Online Trading IT people have sent us a revised version of the long descriptions and a document spelling out the "rules" for how they are put together. Louise is asking for our final comments by close of business on next Wednesday (August 18th). Since I will be out of town then, please forward your comments and/or approvals directly to Mark Dilworth. Questions can be directed to Mark Dilworth, Marcello Romano or Louise Kitchen, all on the online trading team.
Answer: Product type long definitions - legal review
The Commercial Group has asked whether they can sell daily firm for longer than a 3-month period. This phrasing is of course misleading; TW's daily firm contracts are always for a term of just one day, but renew for consecutive one-day terms unless terminated. The discount letter, on the other hand, grants a discounted rate for each of the one-day terms for a certain period of time (typically one month). Steve Harris wants to be able to "sell daily firm for a one-year period." In contractual terms all this would mean is that the contract is for renewabable one-day terms (as usual), and the discount applicable to such terms would be effective for one year. I see no problem with this, do you? (Apparently the current perception in marketing is that regulatory/legal was limiting daily firm to a 3-month period.)
Answer: daily firm on TW
To prepare for the simulation test that will run this week, can you please make sure the necessary people in your group have the appropriate access to the UBS application to perform their job function. For example, I know that the Reports application was used by most groups and that the risk groups also used the Bridge Monitor application. Although we are not expecting any problems to arise, please let me know of any issues your group has logging onto the system. Thank you for your help! Dawn 3-9353
Answer: Access to UBS application
Hi gang. I will be out of the office quite a bit over the next 4 weeks. Please make sure you copy Scott and Molly on all emails and send all faxes to Scott Goodell, just to make sure we don't miss anything. Thanks
Answer:
Out of office