Alan, our goal is for Enron Trading Services to clear Enron's futures and 
leverage broker/order routing service through EOL.

The first step is to pull together an internal study via David Dupre and 
Sarah Wesner Soong in Houston to define tangibles/financial return. Sarah 
voiced concern with providing this information without legal authorization. 
Please consider the issue and advise

Regards
Craig Young

Study should include:

List of exchanges traded 
List of clearing firms and fee/brokerage structure
Finance packages offered by the firm
High/Low/Average open margin 
Total commission per quarter
Firm relationships/special services
Daily volume of exchange traded contracts x units x value

Heading Examples for Clearig Firms:

Exchange/Commodity
Clearing Fee
Exchange Fee
NFA Fee
EFP Fee
Pit Brokerage
Clearing Fee
Delivery Fee
Option exercise/assignment Fee
Access or Globex Fee
Give-up Fee
Half Turn Commissions
Credit
Special services

From this study Enron can define:

Amount of regulated capital- proprietary/customer
Exchange memberships requirements
Order routing and systems
Value information provided through order flow/open positions
Ability/Cost to provide service on EOL
Added dollar velocity through EOL
Regulation issues or concerns
Risk assessment -- real time mark to market
Centralise cash management and efficiencies
Reduced overall margin
Credit cost/opportunity
Human resources




From: Alan Aronowitz on 10/03/2000 04:35 PM
To: craig.young@enron.com
cc:  
Subject: Your call

Got your voice mail. I'm in meetings right now. Could you call me tomorrow 
morning so we can discuss what you would like for us to do?

Alan