Have any of you seen an EOL broker deal come through, yet? I have not seen one on the physical side. 

 

 -----Original Message-----
From: 	Sorenson, Jefferson D.  
Sent:	Monday, March 26, 2001 10:17 AM
To:	Scully, James; Loukanis, Linda K.; Goodwin, Herbert; Gonzales, Alexia; Schultz, Michelle; Denson, Mary Jane; Harris, Stephanie
Subject:	FW: Broker Client Procedure


Very Important!

Please read below.
I would like Herbert to be the point person on this in ensuring the checkout with the broker is done timely.  There can be no exceptions to these transactions being checked out according to the guidelines below.  Herbert will be responsible for the e:mail to credit. Again,  the counterparty is not to know the transaction was conducted through EOL.

Thank you,
Jeff
 -----Original Message-----
From: 	Becker, Lorraine   On Behalf Of Shults, Bob
Sent:	Friday, March 23, 2001 11:24 AM
To:	Beck, Sally; Dyson, Fernley; Bradford, William S.
Cc:	Brackett, Debbie; Apollo, Beth; Jordan, Mike; Maley, Paul; Davies, Tim; Beth Apollo/HOU/ECT@ENRON; Reeves, Leslie; Seib, Dianne; Hedstrom, Peggy; Clark, Keith; Nicholls, Debbie; Tarling, Neil; Horn, Cindy; Shivers, Lynn; Frayre, Imelda; Hill, Gail; Zipper, Andy; Thomas, Sheri; Denny, Jennifer deBoisblanc; Diamond, Daniel; Gosalia, Amita; Greenberg, Mark; Moran, Tom; Sorenson, Jefferson D.; Theriot, Kim; Clark, Danny; Murphy, Melissa Ann; Hunter, Larry Joe
Subject:	Broker Client Procedure

Effective today Natsource will have an execute id for www.brokerclient.com which will allow them to execute transaction on EnronOnline for their customers.  Natsource does not intend to execute before Monday the 26th.  As a follow up to a meeting held on March 8th with representatives from your organizations, I wanted to outline the procedures which were discussed for Broker confirmations.  Strict adherence to these procedures will ensure that we mitigate Enron's exposure to broken broker executions.


Broker executes a transaction on www.brokerclient.com
Broker receives instataneous electronic confirmation on broker client
Broker obligation per contract:

On the day of each Execution, Broker will (i) verify each Execution with the relevant Counterparty in writing or by telephone, (ii) notify Enron of such verification by telephone and (iii) deliver to Enron a written summary of all Executions which occurred on such day and confirming the verifications thereof.  Broker agrees that it will record all telephone conversations with Counterparties regarding Transactions and will make copies of such recordings available to Enron on reasonable request.  

Enron will confirm all broker executed transactions by close of business each day  in writing, by telephone or electronically
Any issues raised during the broker confirmation will be immediately brought to the attention of Tom Moran (Houston credit; Debbie Brackett backup), Paul Maley (London Credit; Tim Davies backup).  If you cannot reach any of the credit contacts, call The EnronOnline Help desk at 713 853-HELP and report the broker confirmation issue.  Credit and or Product Control will zero out the broker credit until the issue has been resolved.  Credit and or Product Control will notify the Bob Shults (Dan Diamond backup) of any issues
After a broker has been fully checked out each day, the confirmations group will email the credit contacts listed above with positive confirmation notice indicating that there are no issues for that broker for that day.  This will allow credit to identify potential problems due to someone not calling on issues.
Transactions executed on EnronOnline by a broker will not have any reference to EnronOnline and will be documented as it they were voice brokered transactions.  The transactions will never be contracted under an EnronOnline General Terms & Conditions.
Confirmations with the counterparty will be handle the same as a voice brokered transaction.