My comments/suggestions below in red. As always, I'm happy to discuss.




Dale Neuner on 01/25/2000 09:09:29 AM
To: Mark Taylor/HOU/ECT@ECT
cc:  
Subject: New Index - Please review


Trading wants to conduct Basis Swaps of Last Day NYMEX vs the Gas Daily 
Average of ANR Louisiana. I've created the below language accordingly and 
would like for you to review. The words in BOLD were added to make this 
'work'.


Index:  NYMEX HH L1/GD ANR LA
Abbreviation: GD ANR-LA
Sort Code: 1210
Description: The Fixed Price shall be the settlement price for the last 
scheduled Trading Day of the NYMEX Henry Hub Natural Gas Futures Contract, 
modified by the price submitted by the Counterparty on the website, for the 
applicable Determination Period. [Is this for the contract for delivery 
during the Determination Period - in which case maybe we should say "for 
delivery during the applicable Determination Period"?] The Floating Price for 
the applicable Determination Period shall be the average of the Daily 
Midpoint prices published on each calendar day during such Determination 
Period under the heading "Daily Price Survey" in the Louisiana - Onshore 
South, ANR section of Gas Daily, or if Gas Daily is not published on a 
calendar day is not a Business Day then the price used shall be the Daily 
Midpoint price published on in the next suceeding issue of Gas DailyBusiness 
Day. [Do we have a problem if the next price published is int he following 
calendar month?]


Dale