Average volume is 35,000-40,000 on nymex of which about half is spreads.  So 
around 20,000 outrights trade.  We trade more than that on EOL.  Today's 
conditions 1000 lot market would be 3-4 cents wide.  have executed trades as 
large as 10,000 across a longer term and 1000 lot clips in the front 
frequently.




Caroline Abramo@ENRON
04/12/2001 06:48 AM
To: John Arnold/HOU/ECT@ECT, Mike Maggi/Corp/Enron@Enron
cc:  
Subject: SUNRISE CAPITAL

John/ Mike- could you give me a sense of the below on nat gas..

thanks,
ca
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 04/12/2001 
07:46 AM ---------------------------


Caroline Abramo
04/11/2001 12:22 PM
To: Russell Dyk/Corp/Enron@ENRON, Robyn Zivic/NA/Enron@Enron, Mog 
Heu/NA/Enron@Enron, Stephen Plauche/Corp/Enron
cc: Per Sekse/NY/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT 

Subject: SUNRISE CAPITAL

This is a program trader in San Diego with about 1 Billion in Capital.  They 
concentrate on front month trading- both swaps and options.  they are looking 
for liquidity and want to know:

1. size of the financial markets- what is the daily trading volume like?
2. bid/offer on size.. like 10,000 to start and then 5,000..1,000 - only for 
the front month on swaps and options?
3. what kind of size we have seen go through directly from anyone?

They want to know this for nat gas: I can talk to John and Mike on this
Rus- can you please get this on WTI, heat, and unleaded.

I want to try to get this to them today... we'll be getting a lot of these 
inquiries.

Also, they trade through Carr futures, Merrill, Morgan Stanley, and 
JPM/Chase.. What they want to do is trade with us and then we'll give-up the 
trades to the above counterparties.. in effect, we will not have any credit 
exposure..I can explain this in our meeting.

Thanks,
CA