Please take note of the following: 

The revised EOL coal documentation (which is still being worked on), and the 
product itself, provides for financial close-out of the contract in certain 
circumstances as opposed to physical delivery.  This revised product now 
falls within the ambit of regulation for financial settled derivative 
products and should therefore be treated as such in your counterparty review.

Please feel free to contact myself or Paul Simons if you have any queries on 
the regulatory perspective of this, or myself or Peter Bradley if you have 
any queries on the product structure.

Thanks, Edmund.
 



   Enron London - EOL Product Control Group                04/11/2000 07:35 PM

Sent by: Arfan Aziz
To: David Hardy/LON/ECT@ECT, Lee Munden/LON/ECT@ECT, Edmund 
Cooper/LON/ECT@ECT, Justin Boyd/LON/ECT@ECT, Janine Juggins/LON/ECT@ECT, 
Debbie R Brackett/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc: ECT London Credit, Enron London - EOL Product Control Group/LON/ECT@ECT, 
Mark Dilworth/LON/ECT@ECT, Peter Bradley/LON/ECT@ECT, David 
Forster/Corp/Enron@Enron, Frank L Davis/HOU/ECT@ECT, Product Control - 
Houston 

Subject: Caol Counterparties

Please find attached a list of counterparties for European coal trading that 
needs to be reviewed for EOL. The list is made up as follows:

 The first section of this list is a download form EOL and shows the current 
access that EOL active counterparties have to coal products.  Can we use 
these same profiles when we go live with our European Coal product ?  
Please note that T stands for execute status on EOL and R only read access.  
Also the column entitled C shows whether the counterparty has With Collateral 
(labelled N) or Without Collateral  (labelled Y) GTCs currently marked on EOL.
The second half of this list (which begans at row 1561) are the new 
Counterparties that the UK Coal traders would like to get approved for 
trading Coal online.
Please note that these customers have not applied for EOL as yet and those 
labelled NEW are new to Enron (GCP has also been informed)

Please contact me if you have any further queries,

Regards

Arfan