Message-ID: <30578258.1075863197462.JavaMail.evans@thyme>
Date: Thu, 15 Nov 2001 11:27:21 -0800 (PST)
From: sara.shackleton@enron.com
To: edward.sacks@enron.com, paul.radous@enron.com, tanya.rohauer@enron.com
Subject: Payment Date for financial power transactions
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Shackleton, Sara </O=ENRON/OU=NA/CN=RECIPIENTS/CN=SSHACKL>
X-To: Sacks, Edward </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Esacks>, Radous, Paul </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Pradous>, Rohauer, Tanya </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Trohaue>
X-cc: 
X-bcc: 
X-Folder: \SSHACKL (Non-Privileged)\Shackleton, Sara\Sent Items
X-Origin: Shackleton-S
X-FileName: SSHACKL (Non-Privileged).pst

All:

I am trying to resolve a recurring issue in the financial power group.

In the past, we have withheld payment for all swaps with the same counterparty terminating during a calendar month until the fifth Business Day after the floating price is determinable at the end of a month.  As a practical matter, calculation of the payment of an aggregate of daily transactions would conceivably wait until the last Business Day of the month when a floating price was needed for one or more of the swaps.

How do you feel about payment for multiple trades with a party having varying termination dates throughout a given month?  Is this a cash flow issue?  Do I need to involve someone from Treasury or Settlements?

Please let me know.  Thanks.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490