Please print these out for me, create a file for them called EnronOnline 
Pipeline Capacity and bring it to me.
----- Forwarded by Mark Taylor/HOU/ECT on 10/26/2000 09:40 AM -----

	ESanford@milbank.com
	08/22/2000 09:02 PM
		 
		 To: mark.taylor@enron.com
		 cc: EFeo@milbank.com, SKramer@milbank.com, ESanford@milbank.com
		 Subject: EnronOnline - pipeline capacity - CFTC issues




Mark, 

Further to our telephone call of last week with Ed Feo and Steve Kramer, 
attached please find a draft memo discussing certain CFTC regulatory issues 
relating to multilateral online trading systems for pipeline capacity.? Also 
attached are three CFTC no-action letters, the first of which (Channel 4) 
contemplates transactions in pipeline capacity, as discussed in the memo.? 
The other two letters (Altra and QuickTrade) relate primarily to natural gas, 
although the relevant CFTC regulatory issues appear to be similar.? Please 
feel free to call me at 212-530-5414 with any questions you may have about 
the attached documents.? I look forward to working with you and EnronOnline 
to address these issues. 

Regards, 
Eric Sanford 

 <<#7249623 v3 - EnronOnline - Pipeline Capacity Memo.doc>> 

 <<1994 CFTC Letter 94-58 Channel 4.doc>> 

 <<1998 CFTC Letter 98-31 QuickTrade.pdf>> 

 <<1997 CFTC Letter 97-93 Altra.pdf>> 


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 - #7249623 v3 - EnronOnline - Pipeline Capacity Memo.doc
 - 1994 CFTC Letter 94-58 Channel 4.doc
 - 1998 CFTC Letter 98-31 QuickTrade.pdf
 - 1997 CFTC Letter 97-93 Altra.pdf