Please mirror what Tom is doing...



	Lisa Lees
	01/09/2001 02:52 PM
		 
		 To: Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
		 cc: Tom Moran/HOU/ECT@ECT
		 Subject: NEW Option Product Types

Tana/Karen:

The product long descriptions below will fall under the new product types US 
Gas Financial Option Call and US Gas Financial Option Put.  Tom Moran has 
approved copying the profiles for the new product types from the following:

 US Gas Financial Swap 

Please respond no later than 10 a.m. on Wednesday, December 10.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 01/09/2001 11:02 AM 
---------------------------
   
	Enron North America Corp.
	
	From:  Kevin Meredith @ ENRON                           01/04/2001 11:26 AM
	

To: Tom Moran/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT, Jeff 
Blumenthal/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Stephen H Douglas/HOU/ECT@ECT
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Melba 
Lozano/HOU/ECT@ECT, Jason Althaus/Corp/Enron@Enron, Robert B 
Cass/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT 
Subject: NEW ENRONONLINE PRODUCT - PLEASE APPROVE

Your review and approval of the following two product type in the EOL 
Datamanager is needed (for directions on approval , please see steps for 
approval at the bottom of this e-mail). 


US Gas Fin Opt   NYMEX EC4               Aug-Sep00       USD/MM-L

A financial Option Transaction with Enron North America Corp., under which 
the Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction.  The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the website.  The 
Premium shall equal the product of (i) the price submitted by Counterparty 
via the website, multiplied by (ii) the Notional Quantity per Determination 
Period, multiplied by (iii) the number of Determination Periods during the 
Term of the Transaction. The Payment Date for the Premium shall be 2 business 
days after the Trade Date of the Transaction. The Payment Date(s) for the 
Cash Settlement Amount shall be 5 business days after the Cash Settlement 
Amount is determinable. The Cash Settlement Amount shall be the greater of 
(i) zero, or (ii) the product of (a) the Notional Quantity per Determination 
Period, multiplied by (b) the Index minus the Strike Price. 
The Option style and type shall be a European Call.
Automatic Exercise is Applicable.
The Strike Price for the Transaction shall be as set forth in the product 
short description on the website.
The term of the Transaction shall be from the Effective Date to the 
Termination Date. The Effective Date is 01 Aug 2000. The Termination Date is 
30 Sep 2000.
The Exercise Period(s) shall be the penultimate Trading Day of the NYMEX 
Henry Hub Natural Gas Futures Contract for the applicable Determination 
Period. The Index  for each Exercise Period  shall be the the settlement 
price for the NYMEX Henry Hub Natural Gas Futures Contract for the applicable 
Determination Period. 
The price is quoted in US Dollars per MMBtu (one million British Thermal 
Units), which will be the Contractual Currency.
The unit of measure against which the volume is shown shall be 10,000 
MMBtu's. Each option represents a standard quantity of 1 million BTUs 
(British thermal units) per day.


US Gas Fin Opt   NYMEX EP4               Aug-Sep00       USD/MM-L

A financial Option Transaction with Enron North America Corp., under which 
the Seller receives the Premium and the Buyer receives the Cash Settlement 
Amount. Each calendar month during the Term of the Transaction will be a 
Determination Period, provided that if the Term of the Transaction is less 
than one calendar month the Determination Period shall be the Term of the 
Transaction.  The Notional Quantity per Determination Period shall be 
calculated from the volume submitted by Counterparty on the website.  The 
Premium shall equal the product of (i) the price submitted by Counterparty 
via the website, multiplied by (ii) the Notional Quantity per Determination 
Period, multiplied by (iii) the number of Determination Periods during the 
Term of the Transaction. The Payment Date for the Premium shall be 2 business 
days after the Trade Date of the Transaction. The Payment Date(s) for the 
Cash Settlement Amount shall be 5 business days after the Cash Settlement 
Amount is determinable. The Cash Settlement Amount shall be the greater of 
(i) zero, or (ii) the product of (a) the Notional Quantity per Determination 
Period, multiplied by (b) the Strike Price minus the Index.
The Option style and type shall be a European Put..
Automatic Exercise is Applicable.
The Strike Price for the Transaction shall be as set forth in the product 
short description on the website.
The term of the Transaction shall be from the Effective Date to the 
Termination Date. The Effective Date is 01 Aug 2000. The Termination Date is 
30 Sep 2000.
The Exercise Period(s) shall be the penultimate Trading Day of the NYMEX 
Henry Hub Natural Gas Futures Contract for the applicable Determination 
Period. The Index for each Exercise Period shall be the settlement price for 
the penultimate Trading Day of the NYMEX Henry Hub Natural Gas Futures 
Contract for the applicable Determination Period. 
The price is quoted in US Dollars per MMBtu (one million British Thermal 
Units), which will be the Contractual Currency.
The unit of measure against which the volume is shown shall be 10,000 
MMBtu's. Each option represents a standard quantity of 1 million of BTUs 
(British thermal units) per day.

==============================================================================
=====
STEPS FOR APPROVAL:

click the  START button 
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD 
click the Enron Online Production Cluster "START" button  
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up 
TO APPROVE:  Right mouse click on "Approved"
  
Thanks - Rob Cass  -  Melba Lozano - Kevin Meredith
                   x35491           x58986                  x39555