Here are the preliminary drafts of the term sheets. The scenario highlights are:

Exchange will host its private label exchange and the central transaction engine and database
Exchange will buy the hardware needed for the implementation
Exchange will define the scope of the hardware needed for local handheld devices and specialist software
Exchange will map and integrate the solution to its back-office systems. Technology provider will provide Exchange with a standardized format data feed to the back-office (we still need to decide how the data format will be defined and who will define it)
Technology Provider will provide all the software and consulting needed  for the solution implementation
Technology provider will be compensated for his solution

Specialist will receive compensation for managing products
Specialist will use commercially best efforts to maintain a defined spread on the product it manages
Specialist will have the option to stream price/volume pairs form the system to its own principal platform
Specialist will have the option to stream its own markets to the system (rules need to be defined)
Specialist will pay no clearing or exchange fees for the products it manages
Specialist will have fill participation advantages

  


Marc Eichmann
Work 713 345-8422, Cell 713 870-2696
Manager Transaction Development
EnronOnline LLC
Smart Business 50 - 2001- Ranked No.1 for Embracing the Web
InternetWeek - 2001- Ranked E-Commerce Leader in Services Sector
Forbes - 2001- Recognized as Best of the Web - EnronOnline 
MIT E-Business of the Year - 2001
Darwin Magazine - 2001 - Fittest 50 - No. 1
Enron (NYSE: ENE)
"Most Innovative Companies", No. 1; Fortune Magazine (6 Years, 1995-2001), 
"Best Management Talent", No. 1, 2; Fortune Magazine (2000, 2001)
"Energy Company of the Year," FT Energy Global Awards, 2000