No, the ETA says that if you have a master agreement in place it governs 
trades in the relevant commodities.  In fact, we used that language to 
mollify the people who were afraid we were going to stop sending confirms 
when they first signed up for EnronOnline.  To the extent we want to 
eliminate confirms for counterparties with masters, we will need their 
agreement.  

From a technical legal perspective we could probably eliminate the confirms 
for GTC-governed  transactions without asking the customer first.  Whether or 
not that is a good idea from a customer relations/marketing/PR view I will 
leave to others.  Since some customers seem to want this pretty badly, you 
might consider offering to do away with the paper for customers who sign up 
for your new data transfer arrangement before making it generally 
available......



	Andy Zipper/ENRON@enronXgate
	04/25/2001 08:41 AM
		 
		 To: Mark Taylor/HOU/ECT@ECT
		 cc: 
		 Subject: FW: Elimination of Confirmations for EOL Transactions


Question:

Does the ETA trump any language in an existing ISDA regarding the signed 
confirm being the governing doc for a trade ?
 -----Original Message-----
From:  Beck, Sally  
Sent: Tuesday, April 24, 2001 1:24 PM
To: Gros, Thomas D.; Zipper, Andy
Cc: Piper, Greg; Reeves, Leslie
Subject: Elimination of Confirmations for EOL Transactions

Leslie Reeves and I met today with Mark Taylor and Mark Haedicke to discuss 
the eliminination of confirmations for transacations executed on 
EnronOnline.  Mark Taylor has been supportive of the elimination of 
confirmations, and in the meeting today Mark Haedicke agreed.  This 
elimination of confirmations will have to be reviewed on a counterparty by 
counterparty basis, and for each counterparty, commodity by commodity.  

Next steps:  Document EOL process and records that can evidence the execution 
of a transaction (ease of availability, type of   record available, retention 
schedule for records, etc. (Sheri Thomas?)

        Create a priortized list of counterparties to be approached for 
elimination of confirmations - large number of    transactions, those that 
have asked for paper-relief, etc. (Leslie Reeves/Kim Theriot)

         Set up meeting with Andy Zipper, Jay Webb, Tom Gros, Mark Taylor, 
Jeff Hodge (Legal-Physical Gas), Elizabeth   Saeger (Legal-Power), and Leslie 
Reeves to review game plan for elimination of confirmations and impact on   
ConfirmLogic (my assistant will set up meeting)