Message-ID: <12465032.1075863202079.JavaMail.evans@thyme> Date: Mon, 5 Nov 2001 10:51:51 -0800 (PST) From: jonathan.marsh@enron.com To: sara.shackleton@enron.com Subject: RE: Terms of Business between ECT Investments, Inc. and Monument Derivatives Limited Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Marsh, Jonathan X-To: Shackleton, Sara X-cc: X-bcc: X-Folder: \SSHACKL (Non-Privileged)\Shackleton, Sara\Inbox X-Origin: Shackleton-S X-FileName: SSHACKL (Non-Privileged).pst Sara apologies for the delay in replying but today is my first day back after vacation. The agreement is standard as far as SFA references are concerned. In relation to your specific points: 1. Technically we could insist on best execution but would not normally do so. It is likely that we would have to pay more by way of commission if we were to insist. 2. The "further assurance" language is not as useful as a power of attorney but may prove helpful 3. The standard LIFFE terms are a requirement of the LIFFE rules. 4. The CFDs probably could be documented under an ISDA. It would be worth liaising with Monument's counsel on this point. Regards. Jonathan -----Original Message----- From: Shackleton, Sara Sent: 30 October 2001 15:10 To: Marsh, Jonathan Subject: FW: Terms of Business between ECT Investments, Inc. and Monument Derivatives Limited Jonathan: The attached document is governed by English law and subject to SFA rules and regulations. Could you please take a quick look at the SFA provisions and let me know if you have any comments? The SFA references appear in the following paragraphs of the Terms of Business: page 2 - 2.2 page 4 - 4.2 page 5 - 7.3 page 10 - 12.5 page 16 - 5.1 (of Part III) Page 18- 7.9 Also, I'm uncertain of the following: page 13- 1.2 Is this "best execution" language alright? page 17- 7.3 Is the "further assurance" language appropriate for perfection of a security interest in Collateral (in England)? page 28- Schedule 3 Are these "LIFFE" terms fairly standard? Appendix This Appendix contains provisions for documenting CFD's. Can't these be documented under an ISDA? Please let me know if you have any questions. And, thanks for your generous assistance. Sara -----Original Message----- From: Glover, Sheila Sent: Tuesday, September 18, 2001 8:01 AM To: Shackleton, Sara; Heard, Marie Subject: FW: Terms of Business Sara and Marie, Attached is the Executing Broker agreement with Monument and Credit Lyonnais for ECT Investments Inc. Please do not hesitate to call if you have any questions. Thanks. Sheila -----Original Message----- From: Jacqueline Tokley @ENRON [mailto:IMCEANOTES-Jacqueline+20Tokley+20+3Cjtokley+40monumentderivatives+2Ecom+3E+40ENRON@ENRON.com] Sent: Monday, September 17, 2001 10:58 AM To: Glover, Sheila Subject: Terms of Business Further to our conversation we are pleased to attach an E Mail copy of the Terms of Business in the name of the new entity. Copies together with a covering letter will be forwarded to you shortly Regards Jacqui Tokley <<201543.doc>> <<201544.doc>> ************************************************************************* The information in this internet E-mail is confidential and is intended solely for the addressee. Access, copying or re-use of information in it by anyone else is unauthorized. Any views or opinions presented are solely those of the author and do not necessarily represent those of Monument Derivatives or any of its affiliates. If you are not the intended recipient please contact postmaster@monumentderivatives.com ************************************************************************* - 201543.doc << File: 201543.doc >> - 201544.doc << File: 201544.doc >>