The alternatives are a net worth of US$1,000,000 or that all trades be 
guaranteed by an entity that meets the financial requirements.




Paul Simons
11/20/98 03:50 AM
To: Rod Sayers/LON/ECT@ECT, James Sandt/LON/ECT@ECT, Julie Adams/LON/ECT@ECT, 
Rajen Shah/LON/ECT@ECT
cc: Mark - ECT Legal Taylor/HOU/ECT@ECT, Scott Sefton/LON/ECT@ECT, Michael R 
Brown/LON/ECT@ECT 
Subject: US LLC-CAPITAL REQUIREMENTS

Just a line to confirm that the capital requirements for the new trading 
company under CFTC rules will be the same as those applicable to ECTRIC- i.e. 
it must have total assets in excess of US$10,000,000.

Kind regards

Paul