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Ted, Question 15 of the annual NYMEX hedge exemptions asks us to describe in detail: "the system of internal controls administered in the supervision of the applican't risk management programs, i.e., describe the risk assessment policies and procedures in place for evaluation and supervision of risk management programs, including "stress-testing" for extraordinary price volatility, and state frequency supervision is conducted." Attached is the response we have given the NYMEX in prior years. Are there any changes in our procedures/control that would necessiate a change in that language?
Annual NYMEX Hedge Exemptions