Fyi...
---------------------- Forwarded by Sheila Glover/HOU/ECT on 06/30/2000 04:42 
PM ---------------------------


Laurel Adams
06/30/2000 10:48 AM
To: Jan-Erland Bekeng/OSL/ECT@ECT, Patryk Wlodarski/LON/ECT@ECT, Peter 
Griffiths/LON/ECT@ECT, Raymond Dollman/LON/ECT@ECT, William 
Quinn/LON/ECT@ECT, Maya Beyhum/LON/ECT@ECT
cc: Esther Demetz/LON/ECT@ECT, Denisa Jozana/LON/ECT@ECT, Kelly 
Lane/LON/ECT@ECT, Ian Sloman/LON/ECT@ECT, Ana Rizvi/HOU/ECT@ECT, Sheila 
Glover/HOU/ECT@ECT, Jeffrey McClellan/HOU/ECT@ECT, Trena 
McFarland/LON/ECT@ECT, Jurgen Hess/LON/ECT@ECT 
Subject: SAP and Seller Rules!!!! Please read

All,

July 1, SAP goes into effect for us here in Houston.  Also, the seller rules 
principle comes into play.  This means that if we (the IR/FX desk) owe you a 
payment in USD, GBP or EUR, you MUST book the payable in SAP to company 0967 
(we are no longer company 1Y3).  We then go into SAP and remove the block and 
that allows the payment to be sent.  

Per Corp., all intercompany trades are to be handled in this  manner.  This 
means that when you are paying us any of the 3 above currencies, we will go 
into SAP and book a payable to your company.  Going forward, when confirming 
settlements with Ana, you must be prepared to provide her with your company 
number.  You are then responsible for going into SAP and removing the block 
to allow payments to be released.  

Is SIFT UK interfacing directly to SAP, or will you manually be booking these 
entries?  If you are interfacing, the payable entry should automatically be 
created.  If you are  manually booking into SAP, you will need to coordinate 
with your accounting/reporting contacts to make sure that all of this goes 
smoothly.  If you are not the person who will be manually booking the entries 
into SAP, please forward this message to the appropriate person.