Message-ID: <18051799.1075855871558.JavaMail.evans@thyme>
Date: Tue, 14 Mar 2000 09:28:00 -0800 (PST)
From: sheri.thomas@enron.com
To: sally.beck@enron.com
Subject: Killed Trades
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Just so you are in the loop on this correspondence...  

Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 03/14/2000 05:28 
PM ---------------------------


David Forster
03/14/2000 05:16 PM
To: Geoff Storey/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect, Kyle 
Schultz/HOU/ECT@ECT, Susan W Pereira/HOU/ECT@ECT, Tom Donohoe/HOU/ECT@ECT, 
Hunter S Shively/HOU/ECT@ECT, Sarah Mulholland/HOU/ECT@ECT, Jared 
Kaiser/HOU/ECT@ECT, Martin Cuilla/HOU/ECT@ECT, John Berger/HOU/ECT@ECT, Greg 
McClendon/HOU/ECT@ECT, Carey M Metz/HOU/ECT@ECT
cc: Louise Kitchen/HOU/ECT@ECT, Product Control - London, Product Control - 
Houston, Daniel Diamond/HOU/ECT@ECT, Kenneth Shulklapper/HOU/ECT@ECT, Mark 
Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Jay 
Webb/HOU/ECT@ECT 
Subject: Killed Trades


It has come to light that there have been a number of  EnronOnline 
transactions which have been "undone" after the fact.

These are situations in which an EnronOnline trade has been completed, but we 
have agreed verbally with the other party that the trade will be deemed not 
have happened and we may have suppressed generation of a faxed confirmation.

It is of great importance that we do not do anything which makes an 
EnronOnline trade appear as though it is not firm, or not reliable, or which 
affects the audit process.

Therefore, EnronOnline transactions must not be killed. 

Individual traders might elect to conduct an OTC transaction which has the 
effect of reversing the impact of an EnronOnline transaction - this activity 
is outside the scope of EnronOnline.

Please note that there has never been an instance in which there has been a 
system error on EnronOnline which caused a trade to take place which was not 
initiated by the customer. All instances to date have involved some kind of 
operator error, or failure to use the results of a Transaction Search to 
verify completed deals.

Dave