That is correct.




David Forster
02/25/2000 05:41 PM
To: Mark Taylor/HOU/ECT@ECT
cc: Frank L Davis/HOU/ECT@ECT, Amita Gosalia/LON/ECT@ECT, Bryan 
Seyfried/LON/ECT@ECT 
Subject: Re: Credit Derivatives  

I assume this means that none of the 50 customers on the original Customer 
Profile list for Credit Derivatives can be located in Canada or Germany . . .

Dave


To: David Forster/LON/ECT@ECT
cc:  

Subject: Re: Credit Derivatives  

There are still certain jurisdictions where we are not offering the product: 
Germany and Canada come to mind.



David Forster
02/25/2000 04:10 PM
To: Mark Taylor/HOU/ECT@ECT
cc:  
Subject: Credit Derivatives

Mark,

I recall at one time, we were concerned that Credit Derivatives could be 
considered to be insurance, and therefore we would come under certain 
regulations. I assume this was resolved to our satisfaction?

Dave