Susan:  You've just hit the nail on the head!  Remember, for FX trading ENA 
is always the principal, either in Houston, through EEFT as agent (under 
services agreement which I presume covers FX deals) or Enron Japan Corp. 
(under services agreement).  Most problematic are the counterparties since 
they could originate from anywhere in the world.

I have heard that Enron Japan had some GTC's that contained "universal tax 
reps" but I haven't checked it out.  Why don't you give me a call.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com



	Susan Musch@ENRON_DEVELOPMENT
	02/21/2001 03:42 PM
		
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Carlos Alatorre/NA/Enron@Enron@ECT, Jeff Blumenthal/Enron@EnronXGate
		 Subject: Re: EOL tax reps

Sara,

Which Enron entities would be a party to the transactions?  Also, where would 
the counterparties likely be organized and doing business?

Best regards,
Susan



From: Sara Shackleton@ECT on 02/21/2001 08:45 AM
To: Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Carlos Alatorre/NA/Enron@Enron 

Subject: EOL tax reps

Susan:

The internal EOL FX products will be opened up to third parties shortly.  I'm 
reviewing the GTC's.  With respect to the tax reps which are incorporated 
into the GTC's, I think we need a "universal" rep since the products could be 
traded by parties residing anywhere in the world.  I believe that the first 
week in March is the target EOL date.  

Can you prepare the tax rep section for the GTC's?  I am not aware of any 
other EOL product having this type of rep but I am not familiar with the 
totality of EOL products.

Please call me if you have any questions.  Thanks.


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com