Tana

The entity that enters into financial trades in Singapore is ECTRIC 
(Singapore branch). Trades are typically done through brokers in Singapore. 
We do not maintain margin funds or cash with these brokers. Broker fees are 
invoiced on a per trade basis.

The principle legislation that would apply to these Singapore brokers would 
be the Futures Trading Act (Chapter 116, Singapore Statutes) ("FTA") which 
has licensing requirements for futures brokers.

ECTRIC Singapore Branch itself is not regulated under the FTA as there is an 
express exemption from licensing requirements for a party trading for itself 
and/or its related corporations. There is presently no other Singapore 
legislation governing or regulating the exchange trades done by ECTRIC 
Singapore Branch. There is presently also no Singapore legislation governing 
or regulating off exchange trades (ie. OTC trades) done by ECTRIC Singapore 
Branch.

Hope that clarifies.

Regards
Matt




   
	Enron Capital & Trade Resources Corp.
	
	From:  Tana Jones                           04/12/2000 05:54 AM
	

To: Edmund Cooper/LON/ECT@ECT, David 
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc:  

Subject: Need Information for Audit

I have not received any feedback from Edmund or David regarding the email 
below.  Can you please respond as I am getting daily prompts for a response.  
MUCH THANKS!

For Matt, your email stated that you trade over the IPE & NYMEX.  What rules, 
besides the rules of those two exchanges, might apply to any on or off 
exchange trades you might enter into.  For instance, here in the U.S. energy 
commodity trades might be governed by the CFTC, where out equity options 
might be governed by the SEC.  Besides the exchanges your email reflected, 
what other governmental rules or regulations would govern trades you might 
enter into?
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/11/2000 04:44 PM 
---------------------------
   
	Enron North America Corp.
	
	From:  Tana Jones                           03/23/2000 11:12 AM
	

To: Edmund Cooper/LON/ECT@ECT, David 
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT 
Subject: Need Information for Audit

In connection with an internal audit regarding the safekeeping of margin 
funds and securities, Enron Corp. has asked us to provide them with a list of 
all the exchanges we trade on, what rules govern those exchanges and the 
products we trade on them (in particular the clearing arrangements), and any 
rules that govern brokers we may maintain funds or cash with.  This should 
include all the products we may trade/hedge over an exchange including energy 
commodities, interest rates, currencies, equities, etc.

Can you please provide this information no later than Friday of next week.  
Much thanks!