I spoke with Joe Collins (see below) this morning.  They are definitely thinking about the Commodity Exchange Act implications.  They don't know exactly who the customers will be or what products will be offered but have several ideas concerning how to avoid the CEA pitfalls -- maybe even including seeking no-action relief from the CFTC.  I gave him your name as someone he might hear from in the future concerning the transaction.

 -----Original Message-----
From: 	Cummings, John  
Sent:	Wednesday, August 22, 2001 10:23 AM
To:	Taylor, Mark E (Legal)
Cc:	Eichmann, Marc
Subject:	Refco Legal Contact

Mark

Gary Weiss with Refco called and suggested the person for you to talk to in regards to your questions is:

Joe Collins
Mayer, Brown & Platt
212-506-2657

He is an outside counsel they have been using for years and particularly to how they will set up a subset of their customers as eligible counterparties in this deal.  Let me knwo if you have any feedback.

JC