I spoke with Bob earlier this week and he outlined the plan for me.  My 
understanding is that ECTRIC will no longer be used for London financial 
trading. If that is correct, from a credit perspective, this is no different 
than setting up a new legal entity, as there will be no possibility for 
netting benefits.  To the extent that there is little overlap of ECTRIC/ENA 
customers with Softs customers, the impact may be minimal.  Trena, can you 
offer comment on this?  Where there is overlap, there is the potential for 
smaller credit thresholds within the ISDA as we would need to divide the 
total line among different relationships.  Trena, we should follow up on this 
when you have some time.

Thanks,
Tanya
 -----Original Message-----
From:  Musch, Susan  
Sent: Friday, March 09, 2001 10:55 AM
To: 'Robert Bruce/Enron North America@ENRON'; McFarland, Trena
Cc: Juggins, Janine; Nelson, Rod; Glover, Sheila; Rohauer, Tanya; Aronowitz, 
Alan; Marsh, Jonathan; Taylor, Mark; Douglas, Stephen H.
Subject: RE: Entity for softs trading- signoff

I'm okay with using ECTRIC for softs global trading (as further described in 
Robert Bruce's e-mail) as well.

Best regards,
Susan


 -----Original Message-----
From:  Bruce, Robert   On Behalf Of Robert Bruce/Enron North America@ENRON
Sent: Thursday, March 08, 2001 4:21 PM
To: McFarland, Trena
Cc: Juggins, Janine; Nelson, Rod; Glover, Sheila; Musch, Susan; Rohauer, 
Tanya; Aronowitz, Alan; Marsh, Jonathan; Taylor, Mark
Subject: Re: Entity for softs trading- signoff

Yes, legal is OK with this.  Trades executed from the London desk will be 
arranged through EEFT; trades executed from the New York desk will not need 
to be.  In either case, the Enron principal to the transaction would be 
ECTRIC.



Robert E. Bruce
Senior Counsel
Enron Wholesale Services
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com




	Trena McFarland 03/08/2001 03:49 PM 	   To: Robert Bruce/NA/Enron@Enron, 
Janine Juggins/LON/ECT@ECT, Susan Musch/ENRON_DEVELOPMENT, Rod 
Nelson/LON/ECT@ECT, Tanya Rohauer/HOU/ECT  cc: Sheila Glover/HOU/ECT@ECT  
Subject: Entity for softs trading- signoff


Everybody

It is my understanding that for we can use the single entity ECTRIC  for 
softs global trading(London and New York).

Please confirm that each of your respective departments is in agreement with 
this.


Thank you


Trena McFarland
Enron Agricultural Trading