Mark?

---------------------- Forwarded by David Forster/LON/ECT on 03/03/2000 04:06 
AM ---------------------------


Carol St Clair
03/02/2000 03:27 PM
To: David Forster/LON/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT 

Subject: Re: TXU/Eastern - ETA comfort letter  

Dave:
I've read the comfort letter.  With respect to item #1, the first paragraph 
is fine.  With respect to the second paragraph, what situation is he trying 
to address?  For example, I thought that in situations where the counterparty 
clicked on a price and the price changed in the counterparty's favor before 
the trade was executed, that the counterparty would get the better price.  
The second paragraph might negate this as written.  Can a situation really 
arise where the system misreads a counterparty's offer?  I think that we need 
to be very careful in what we say here.

With respect to point #2, I need to defer to Mark Taylor on this because I 
thought that the confirmations control, but it could be the case that our 
electronic records could prevail if there is a conflict between the 2.  That 
would seem to make sense to me but I would prefer that Mark concurred with 
this.

Carol