Message-ID: <15322226.1075842100820.JavaMail.evans@thyme> Date: Fri, 23 Jun 2000 10:30:00 -0700 (PDT) From: carol.clair@enron.com To: pperezalonso@rhm.com.mx Subject: Re: Securities Question Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: Carol St Clair X-To: "Pablo Perezalonso" @ENRON X-cc: X-bcc: X-Folder: \Carol_StClair_Dec2000_1\Notes Folders\All documents X-Origin: STCLAIR-C X-FileName: cstclai.nsf Pablo: Weather derivatives are derivative transactions that we do with counterparties based on temperature chnages, rainfall amounts etc. For example, a counterparty (i.e., a ski lift operator) may want us to agree to pay them within a certain seasonal period based on the number of days that the temperature exceeds a certain level. With respect to credit derivatives, these are again financial transactions that we may enter into with a counterparty where we may agree to pay them if an entity taht they have a relationship with goes bankrupt. Carol St. Clair EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com "Pablo Perezalonso" 06/23/2000 06:15 PM To: Carol.St.Clair@enron.com, JRazguzman@rhm.com.mx cc: Subject: Re: Securities Question I am sorry, but, Could you define what do you understand by weather or credit derivatives? Thank you Pablo Perezalonso Egu?a Ritch, Heather y Mueller, S.C. pperezalonso@rhm.com.mx tel: (52) 5-2076533 >>> "Carol St Clair" 06/23/00 04:07PM >>> Pablo and Jose: As a follow-up to our discussion yesterday, would you consider either weather derivatives or credit derivatives to be "securities". Carol St. Clair EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com