Billy

We need to hedge funds.
----- Forwarded by John J Lavorato/Corp/Enron on 01/22/2001 10:00 PM -----

	Caroline Abramo
	01/22/2001 12:18 PM
		
		 To: Andy Zipper/Corp/Enron@Enron
		 cc: Per Sekse/NY/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, John J 
Lavorato/Corp/Enron@Enron
		 Subject: EOL/ Hedge Funds

Most of the macro hedge funds want to trade global crude products and gas 
options immediately.  However,  I am having a big problem getting Tudor and 
like funds up and running on EOL-

Problems:
#1: Credit- major back-log on new names - we don't have enough resources to 
deal with these names (the structures of the funds can be complex- not like 
dealing with industrials).  
#2: With those that we have docs, credit has said we can not trade on-line. 
(???)

The only differences I see with funds trading online is that their trades 
need to go to credit's (Bill Bradford's group) to be included in daily MTM 
and 5 day VAR reports.  We calculate variation margin off these reports so 
its essential credit gets the trades...

AND

In the case of Tudor, they allocate trades between funds- the EOL trades 
would need to go to me or the backoffice, so we could allocate them.

I think the EOL reporting issues can easily be resolved- the credit back log 
is the real killer at the moment.

Rgds,
Caroline





Andy Zipper
01/22/2001 11:15 AM
To: Caroline Abramo/Corp/Enron@Enron
cc:  

Subject: Re:  

Now that gas options have been launched how are they being received ? Have 
you been able to convince any funds to trade. I've heard that Tudor is a huge 
player. where do they stand ?