Q: Per: I am told that Mark Taylor sent an email in December to Bob Shultz at EOL addressing the hedge fund issues (and CTA issues) associated with online trading and that you and Caroline received that email. Apparently the hedge fund crises of last year have heightened regulatory scrutiny of the funds' derivatives activity. EOL does not want to be subjected to any regulatory oversight. I have not seen the email yet. I will broach the subject with Mark when he returns to the office.
Propose a subject line
A: hedge funds
IN: Mark and I met with Mark Haedicke regarding utilities and the need for a legal opinion from the utility counterparty. We have agreed with Mark as follows: 1. Our negotiations with investor owned utilities should be based upon our standard ISDA Schedule (ISDA Multicurrency Agreement) AND including the "Additional Termination Event". Neither party should be required to provide a legal opinion. 2. Investor owned utilites will be approved for online trading from a legal viewpoint. The extra "Additional Termination Event" paragraph is not currently included in the GTC's but COULD be incorporated if there is a revision to the online agreement. 3. Our position with respect to municipals/municipal owned utilities, federal/state/local owned utilities and cooperatives remains unchanged. We should still utilize and update the "municipal ISDA" form, and, require a legal opinion from the counterparty. In that regard, Susan Flynn has been working on an "omnibus" format for an electric co-op (Deseret Generation and Transmission Co-operative), an earlier version of which could be used as a template for a municipal omnibus confirmation.

Generate a subject line.

OUT: Utilities (investor owned)
IN: This is an email
Dan, I am sending you a resume of one of my compatriots who lives in Houston. I met him socially a few times. He graduated from the same university I did. Vince

What is the subject?

OUT: message from Bogdan
QUESTION: Brant: There is one issue that is left to resolve. In the CSA, we define independent amount as any amount specified for a party in any Confirmation or if no amount is specified, 0. They wnat to either delete this entirely or add language requiring some type of notice to the credit dept. of the party that has to put up the independent amount before it becomes effective. What do you want to do? Carol
Propose a subject line for this email?
ANS: UtiliCorp
Here is a summary of what our key contacts are saying on the oil market: SPR: We still expect the Administration to announce an SPR fill plan very soon. The original date has been postponed because work has been seriously disrupted up here due to anthrax scares. We expect them to start with royalty oil, which means that companies drilling in Federal lands in the USG can pay some of their taxes in oil instead of money (like they did in 1999). But DOE sources believe that this (approx 100kb/d) will not be enough for proponents of the plan, and they will want to expand the SPR fill to include purchases either through the spot market or through off-market contracts with key oil producing states. IRAQ: Sources believe that the US will try again for "targeted sanctions" when the oil for food program comes up for renewal in early December. Like last time, there will be Iraqi disruptions, and also like last time, the US will likely give up after making a symbolic stand. Bottom line -- we expect around 4-6 weeks of Iraqi oil export disruptions.
Q: What is a potential subject line for this email?
answer: Oil Update from Washington
Attached please find referenced list. The only amended counterparty with a change was Murphy Exploration which was shut down for power. I wonder, when we are working with amended counterparties, if there is some way that my prior approval could be on the recent spread sheet? Right now I have to go find the old spread sheet to find out what I approved it for last time to see if I have any problem with the change. So usually, unless I have - change next to amended, it means I had no change to what I said before. Does that make sens?
Q: What is a potential subject line for this email?
answer:
Counterparty Approval List for 1/28/00