Hi Sara

Can you shed any light on the issues below?

Martin
---------------------- Forwarded by Martin Rosell/OSL/ECT on 27/03/2001 16:56 
---------------------------


Martin Rosell
18/03/2001 16:58
To: Elizabeth Sager/HOU/ECT@ECT
cc:  

Subject: Commodity Futures Modernization Act

Elisabeth:

I read an article in a law magazine about the captioned Act and it was, among 
other things, stated therein that CFTC under the Act had been deprived of its 
jurisdiction over swaps (other than those related to agricultural products) 
made by eligible contracts participants.  Since the Oslo office trades 
through ECTRIC, I wonder whether this new piece of legislation has an impact 
on our standard reps relating to the "trade options exemption" and as to the 
parties being "eligible swap participants" (are they still required)?  Is 
there any internal memo yet prepared on the Act and its implications?

Martin