----- Forwarded by Brent Hendry/NA/Enron on 10/16/2000 11:43 AM -----

	Dale Neuner@ECT
	10/13/2000 08:42 AM
		 
		 To: William Stuart/HOU/ECT@ECT
		 cc: Amita Gosalia/LON/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, David 
Forster/Corp/Enron@Enron, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Robert B 
Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, 
Janine Juggins/LON/ECT@ECT, Justin Boyd/LON/ECT@ECT
		 Subject: FX Transactions - an Update

Brent Hendry and I had a conference call this morning with Janine Juggins, 
London Tax, and Amita Gosalia, head of PCG London. We all agree that the 
Enron Legal Entity offering this Product from (i) Houston - will be Risk 
Management & Trading Corp; (ii) from London - will be EEFT as agent for RMT; 
and (iii) from Tokyo - will be EJC as agent for RMT.

We will have a single Product Type (built by PCG Houston) which will contain 
text describing the above. Since these Products are offered on an 
around-the-clock basis, and since there is no way to idenitfy in the 
customers Transaction Summary which entity is offering a Product at the time 
of the transaction, we need commercial to identify what trading hours each 
trading desk will be offering the Products, taking into account any overlaps 
(such as the time overlap between Houston and London) and any gaps (such as 
the time gap between Tokyo and Houston). These times will be included in the 
legal description for the purposes of identifying the Enron trading party.

Also in this meeting, Janine expressed that she needs to make a close 
examination of the corporate structure surrounding Enron Japan Corp., 
determine whether there is a service agreement in place between EJC and RMT 
(such as the one in place between EEFT and RMT) and whether there is any Tax 
or Regulatory concerns relating to such relationship.

We are well aware of your desire to have these Products available to you for 
online trading as quickly as possible, but at this time I cannot offer a 
timeline as to when they will be available, as the timing will depend on 
Janine's findings. However, I will continue to build this Product in TEST so 
that you can get feel for how it will work.

In the interim, please provide the aforementioned trading hours.

Dale