Mark 

We'll be finalising these this week over here with a view to implementing 
them among the credit trading group in London.

As discussed, it makes sense to have the same (or virtually the same) 
procedures in Houston to ensure that confidential information is handled 
uniformly for this purpose.

Please let me have your comments on the procedures (if any) by the end of the 
week, if possible.

Many thanks

Paul

PS I assume you're comfortable with S&C's work on the US GTCs whichare now 
almost finalised - I'll send through final versions
---------------------- Forwarded by Paul Simons/LON/ECT on 09/02/2000 13:23 
---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  GILBERGD@sullcrom.com                           08/02/2000 22:21
	

To: psimons@enron.co.uk, tolek.petch@slaughterandmay.com
cc: Mark Taylor/HOU/ECT@ECT, RAISLERK@sullcrom.com (bcc: Paul Simons/LON/ECT)

Subject: Policies and Procedures



Attached are blacklines of the Credit Derivatives Policies and Procedures and 
letter to Reference Entities, which have been revised to reflect Tolek's 
comments (with the exception of the English law points, which we have not 
addressed).  Please call or e-mail with any questions.  Best regards.


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