Subject: trading statement for today
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Tue, 20 Nov 2001 14:22:59 -0800 (PST)

How about this...

There was no recognizable change in counterparties.  No one significant has dropped off.  We can't identify individuals who might not be transacting with us.  The transaction volume is still within the normal range, given the normal daily and counterparty variability (30-day rolling average of more than 5,500 transactions with a notional value of more than $2.7 billion).  

As reported in the 10Q, while trading volumes in our core natural gas and power business have held steady, there has been some decrease in wholesale trading volumes in a few of our non-core businesses.  Additionally, due to the unusual events of the last few weeks, we have seen some decrease in the number of long-term transactions.  (Long-term deals are often completed off-line and would not appear in EOL numbers).