Billy

We need to hedge funds.
----- Forwarded by John J Lavorato/Corp/Enron on 01/22/2001 10:00 PM -----


	Caroline Abramo 01/22/2001 12:18 PM 	  To: Andy Zipper/Corp/Enron@Enron  cc: Per Sekse/NY/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron  Subject: EOL/ Hedge Funds 	


Most of the macro hedge funds want to trade global crude products and gas options immediately.  However,  I am having a big problem getting Tudor and like funds up and running on EOL-

Problems:
#1: Credit- major back-log on new names - we don't have enough resources to deal with these names (the structures of the funds can be complex- not like dealing with industrials).  
#2: With those that we have docs, credit has said we can not trade on-line. (???)

The only differences I see with funds trading online is that their trades need to go to credit's (Bill Bradford's group) to be included in daily MTM and 5 day VAR reports.  We calculate variation margin off these reports so its essential credit gets the trades...

AND

In the case of Tudor, they allocate trades between funds- the EOL trades would need to go to me or the backoffice, so we could allocate them.

I think the EOL reporting issues can easily be resolved- the credit back log is the real killer at the moment.

Rgds,
Caroline





Andy Zipper
01/22/2001 11:15 AM
To:	Caroline Abramo/Corp/Enron@Enron
cc:	 

Subject:	Re:   

Now that gas options have been launched how are they being received ? Have you been able to convince any funds to trade. I've heard that Tudor is a huge player. where do they stand ?





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