-----Original Message-----
From: Taylor, Mark E (Legal) 
Sent: Thursday, August 23, 2001 9:19 AM
To: Webb, Jay
Subject: Create Limit Order pop up -- does the Enron trader have the ability to accept the order before it goes live to the world?


Create Limit Order 
Clicking Submit in the Create Limit Order panel creates an order that will remain in the EnronOnline system until the order is either filled at your specified price or expires after a specified time limit. If, during that time, the price you entered falls between the Enron's  Bid and Offer posted on EnronOnline, then EnronOnline [m1] will change [m2] its price to show a new market with a tighter spread that reflects your limit order the price at which you are willing to trade with us*.

You can cancel an existing limit order at any time before it is filled by highlighting the order in the Today's Orders screen and clicking Cancel.

*Multiple limit orders for the same price will be prioritized by the time of submission. Only limit orders that are between EnronOnline's Bid and Offer prices will create a new EnronOnline market on the Quotes screen.
 
 
  _____  

  [m1]EnronOnline itself isn't trading so we need to be careful not to give that impression.
  [m2]This is the key! - we are changing our price, not showing their price.