----- Forwarded by Sara Shackleton/HOU/ECT on 06/01/2000 09:20 AM -----

	David Minns@ENRON_DEVELOPMENT
	05/31/2000 10:51 PM
		 
		 To: Sara Shackleton@ECT
		 cc: 
		 Subject: Client Agreement ABN Ambro

Further to our telephone discussion today with Jason Peters who I couldn't 
find on email. I did some checking around. The clause (which incidently 
normally has a paragraph (d))seems  to be only found in the CBA Agreements. 
Its purpose is a little uncertain. If the Broker was holding a Client's money 
then by law he must account for it. 

The reason why there ARN Ambro may be reluctant to accept the clause is 
because the instances it addresses would probably fall within the definition 
of an "undesirable market event" under the SFE rules. This would trigger 
action by the Board of SFE to sort out the mess. It may uncertain as to how 
these contractual would fit in