In US financial trading (derivatives) we send the attachment each time, but 
it should only be 4 or 5 pages long.  This may be different in the physical 
trading world - I'll check into it.




Louise Kitchen
01/21/2000 02:48 PM
To: Mark Taylor/HOU/ECT@ECT
cc:  
Subject: Re: 5 each

Thoughts?
---------------------- Forwarded by Louise Kitchen/LON/ECT on 01/21/2000 
08:46 PM ---------------------------


Raphael Brun
01/21/2000 06:42 PM
To: Louise Kitchen/LON/ECT@ECT
cc: Ellen Wallumrod/LON/ECT@ECT 

Subject: Re: 5 each  

Thank you  Louise,

Just one remark which came back to me already a couple of time.

When we close a transaction with our normal counterparties, why do we need to 
send the GTC each time since when we close OTC witrh these same 
counterparties, this is not necessary ?

They are finding that our confirmations are 13 pages long for a single swap. 
Do you think we could avoid sending the GTC for some of our most active 
counterparties ?

Regards

Raphael