Dear Derivatives Week subscriber: 

Catch the latest breaking news in this week's issue by clicking here: 
http://www.derivativesweek.com 
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DW Series Scoops Top Journalism Award.  
Derivatives Week's coverage of the development of the telecom derivatives 
market 
has been recognized in a first place award by the National Press Club in 
Washington, D.C. 
A series of articles, written by former staffer Jeany Haggerty, were judged 
to be the best 
analytical stories in the 2000 Newsletter Journalism category. 
___________________________________________________________ 

Top stories this week: 
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U.S. GROUP DOES FIRST WEATHER TRADES 
Louis Dreyfus Group has launched a weather derivatives trading desk, 
and recently closed its first trades. It's looking to sell products to 
customers 
and to a lesser extent, make markets. 

INDIAN OIL CO. PLANNING TO DIVE INTO SWAPS MARKET 
Bharat Petroleum Corp. is planning to enter the interest rate derivatives 
market to swap fixed rate loans into floating to take advantage of an 
expected 
fall in interest rates. 

IBERDROLA EYES CREDIT DERIVATIVES 
A massive utility based in Spain is considering using credit derivatives to 
hedge 
Latin American exposure. One idea it is considering is buying protection on a 
basket of names. 
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Thanks and enjoy this week's issue. 

Jim Beecher 
Publisher 

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