Corporately, we are not allowed to trade currency outside of Houston.  In the same way, we can't make markets on other traders' markets.  If EOL has enough products in currency, we may be able to post our numbers on the screen inside of the Houston currency traders' two-ways.  I am unsure if we are even allowed to do this.

 -----Original Message-----
From: 	Cooke, Ian  
Sent:	Monday, September 17, 2001 6:34 PM
To:	Zufferli, John
Subject:	Currency Trading

Hi John,

I am interested in started a currency trading desk in this office. The ultimate goals of this would include providing tighter two-ways for our traders as well as improving our bottom line.   This would open up opportunity for investing in money markets outside of Canada and the US.   The Swiss Franc rose 5.5% versus the US dollar last week and I think that we are currently missing out on excellent opportunities to increase our income.  I think I could make money at currency trading, and this area shouldn't be overlooked. I understand that a substantial amount of preparation is required before this could happen.  Let me know whether or not you think this may be feasible and we can take it from there.

Thanks,
Ian