Midland Cogen is saying that this deal #780788 for 1700 MMBtu's on May 10th, should have been Trunkline.ELA.GDP.D.A. instead of Trunk.Katy.GDP.D.A. Could you verify this and if they are correct please change this in our system?
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answer: Midland Cogen Deal #780788
One of the most important credit tools available to help Enron Wholesale Se= rvices (EWS) manage counterparty credit risk is setoff rights. This is par= ticularly true as our trading business is expanding to include numerous com= modity lines, including gas, power, coal, steel, pulp and paper, each of wh= ich may be traded under different masters with a single counterparty. This= complexity is further increased as a result of EWS using multiple affiliat= ed entities to trade the various commodities. Absent express contractual s= etoff rights, EWS may be unable to setoff exposures under different master = contracts. =09A team of EWS lawyers has been working to assemble setoff language that = will substantially enhance EWS's credit position with counterparties with w= hom we trade multiple commodities. This setoff language, which is set fort= h below, must be in all EWS trading form contracts. Similarly, when negoti= ating on third party paper, we should request that this additional setoff l= anguage be added. MANDATORY SETOFF LANGUAGE FOR=20 EWS TRADING CONTRACTS =09(A) Upon the designation or deemed designation of an Early Termination D= ate, the Non-Defaulting Party ("X") may, at its option and in its discretio= n, setoff, against any amounts Owed to the Defaulting Party ("Y") by X or a= ny Affiliate of X under this Agreement or under any other agreement(s), ins= trument(s) or undertaking(s), any amounts Owed by Y to X or any of X's Affi= liates under this Agreement or under any other agreement(s), instrument(s) = or undertaking(s). The obligations of Y and X under this Agreement in resp= ect of such amounts shall be deemed satisfied and discharged to the extent = of any such setoff exercised by X and/or X's Affiliates. X will give Y not= ice of any setoff effected under this section as soon as practicable after = the setoff is effected provided that failure to give such notice shall not = affect the validity of the setoff. For purposes of this Section __, "Owed"=
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answer: Mandatory Setoff Language for Inclusion in all EWS Trading Contracts
Dear Dr. Kaminsky, I was in SIAM Workshop last Friday and I enjoyed your talk very much. I wonder whether you will be able to email the material you have presented and also give me some references to start with. My Background is B.S. M.A. in Math, Ph.D. in Fluid Mechanics, 2 yrs Post Doc doing Computational fluid dynamics in parallel machines (IBM SP). For the past 4 yrs I am doing the Basin Simulation development with Mobil. I always wonder how the financial problems can be solved and how the numerical computing, especially, supercomputers, can be applied to these problems. Your talk is a very good starting place for me. Thank you very much. Best Regards,
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answer: Slides for SIAM Workshop
Stephanie- Continuing our conversation from this morning, we actually will need to create a new EOL ID for Eric Saibi to trade on his new book...EPMI Ercot-Off. Do you need any more information from me to create it? Thanks!
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answer:
New EOL ID