Please see the below request from the UK Gas desk about an online exchange they wish to join.

I think for awhile there had been talk about EnronOnline needing to somehow approve the access that Trading Desks had to other online platforms.  Is this still the case?

How do you wish to proceed?

Regards,
Lara

 -----Original Message-----
From: 	Saxena, Rahul  
Sent:	25 May 2001 15:39
To:	Nicholas, Matthew; Crilly, Peter; Klar, Guenther; Harrison, Oliver; Simons, Paul; Boyd, Justin; Hill, Gail; McKinney, Lara; Ruprai, Harjit
Subject:	Joining the EnEx Energy Trading Exchange

Matt of UK Gas has asked legal to have a look at the contract pursuant to which Enron would join EnEx.  EnEx is an online trading platform operated by EnMo Limited.  Subscribers must sign a one page contract pursuant to which they agree to be bound by the EnEx Rules.  Matt would like to sign up by 31 May  when EnEx goes live.  The purpose of becoming a subscriber is to trade NBP 7 day ahead gas contracts.  We will of course need to CACS the contract - Matt, we need to identify the relevant people who will sign the CACS, which will include transaction support and I would think IT.  Adam has prepared a summary of the Rules which is attached.
Two fundamental questions:
1. Does this conflict with EnronOnline,  either legally or commercially?  Legally, there are no restrictive covenants preventing Enron from being a member of or running other  trading platforms.  Commercially, I am copying this note to Justin who does the EnronOnline legal work and ask Justin to please check with the EnronOnline people.
2. Are we ready to comply with the Rules?  Note that there are also fees payable to be a subscriber.  Adam's summary will help, but all the relevant groups will need to have copies of the Rules and review them - I have one copy and can make additional ones.  Finally, I note that there is a standard form parent company guarantee in the package of documents - have we been asked to provide one?
I am copying in Guenther in tax and Oliver in credit to please look at this.
Regards, Rahul x. 35470