Subject: Fwd: BuySideDirect
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Date: Fri, 27 Oct 2000 07:30:00 -0700 (PDT)

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From: "Lisa O'Connor" <[email-masked]>
To: <[email-masked]>
Cc: "Mike Minnnich" <[email-masked]>
Subject: BuySideDirect
Date: Fri, 27 Oct 2000 11:34:44 -0700
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Dear Jason,

Getting back to you on the points still outstanding on the BuySideDirect
agreement.

4.1 - comma, not a period, on the 11th line (Change included)
4.6 -  Addition of following language --  (Change included)

In the event that any component of a BSD executed trade is deemed Clearly
Erroneous (by BuySideDirect, the NASD or any ATS or ECN through which
BuySideDirect executes trades), the entire BSD trade, including both bond
and equity components on all sides of the trade, will be cancelled.

5.1     Enclosed are  Broker Dealer Attachments 1 & 2

5.2      Modification of previous language - (Change included)

After trade affirmation, BuySideDirect shall cause its clearing firm to be
responsible for the clearance and settlement of all affirmed trades executed
on the BuySideDirect trading system.

17.2   You requested the phrase, at Subscriber's election, which we have not
included.

Consequential --  You also requested the deletion of the term consequential
from sections 6.1and 6.2.  We would like to keep the language as is in
sections 6.1, 6.2 and 18.

Please give me a call if you would like to discuss the document further.
You can reach me at 415-369-5020.  Thanks

Regards,

Lisa O'Connor

Lisa Mears O'Connor, CFA
BuySideDirect LLC
a subsidiary of Intelligent Markets, Inc.
415-369-5020 Phone
415-369-5021 Fax

 - BSD BD Attachment 2.DOC
 - BuySideDirect Attachment 1.DOC
 - Enron BuySideDirect Subscriber Agreement Dated August 25 2000.doc