Hi Mark,Barbara,
 
Our trader Jay apparenly had some wrong prices on EnronOnline and Enserco did two trades with us at that price. Subsequently our trder requested Enserco to let him out of the trades but they refused and our trader told risk to kill the trade in the back end system and hold the confirm and the customer can take us to court if they want. I will follow up with the trader and his boss. Please let me know if there is anything specific that we should do.
 
Savita
-----Original Message-----
From: Moorer, Torrey 
Sent: Friday, September 21, 2001 10:29 AM
To: Puthigai, Savita
Subject: Enserco Trades


Hi Savita,
 
I wanted to give you some detail on the two trades Jay Reitmeyer did with Enserco yesterday. These trades (see attached detail), were apparently unintentionally put on the web and Enserco subsequently hit them. Jay has asked Enserco to let the trades go, but they have said they won't. The prices on both are better than 80 cents out of the money and Jay has told his Risk desk to hold the Confirm and kill both deals in TAGG.
 
I wanted to fill you in on this as it looks like something Legal will definitely want to review.

Torrey Moorer 
EnronOnline Product Control Group 
(713) 853-6218