Message-ID: <19235358.1075842204467.JavaMail.evans@thyme> Date: Thu, 17 May 2001 14:26:00 -0700 (PDT) From: lmcmurray@exchange.ml.com To: carol.st.clair@enron.com, jtucciarone@aeglobalmarkets.com Subject: RE: Merrill/Allegheny Deals Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: "McMurray, Locke (OGC)" X-To: "'Carol.St.Clair@enron.com'" , "'jtucciarone@aeglobalmarkets.com'" X-cc: X-bcc: X-Folder: \Carol_StClair_June2001\Notes Folders\Power e-mails X-Origin: STCLAIR-C X-FileName: cstclai.nsf Carol - It is hard for me to concur without hearing from Jim as to exactly which trades he views as Allegheny's. Jim - Let's go through the list on Monday, ok ? - L > -----Original Message----- > From: Carol.St.Clair@enron.com [SMTP:Carol.St.Clair@enron.com] > Sent: Thursday, May 17, 2001 5:25 PM > To: LMcMurray@exchange.ml.com > Subject: RE: Merrill/Allegheny Deals > > Locke: > Do you concur? > > Carol St. Clair > EB 3889 > 713-853-3989 (Phone) > 713-646-3393 (Fax) > carol.st.clair@enron.com > ----- Forwarded by Carol St Clair/HOU/ECT on 05/17/2001 04:24 PM ----- > > "Tucciarone, James" > > rkets.com> cc: Elsie.Lew@enron.com, "':Rhonda.L.Denton@enron.com'" > <:Rhonda.L.Denton@enron.com>, "Conte, Rita M." > 05/17/2001 01:40 PM , "Yaish, Yair" , > "Schubiger, Michael" , "Sheybani, Robert" > , "Jimenez, Tanya" > , "Orr, Tom" , > "'ldorr@exchange.ml.com'" > Subject: RE: Merrill/Allegheny Deals > > > > > > 5/17/2001 > > Dear Ms. St. Clair, > > In my discussions with Rhonda L Denton, I understand that certain Enron > transactions have been confirmed > as Merrill Lynch Transactions. My understanding of the facts are that > Merrill Lynch has not entered into any > Financial Swaps with Enron North America since 3/16/2001. Any Financial > transactions after March 16, 2001 > should be confirmed as Allegheny Energy as governed by the ISDA Master > Agreement signed on March 16, 2001. > > I have confirmed these facts with Ms. Lucy Dorr of ML Client Services; > similarly, Lucy has discussed this matter with > Locke Mc Murray, Counsel to ML Commodities. > > The deals in the attached list show ML as the counterparty on Financially > Settled Power Swaps which is incorrect. > Merrill Lynch has entered into Physical Settlement Power transactions which > should be confirmed with ML for > billing purposes. > > Allegheny Energy would be happy to supply a letter to Enron to confirm > these > facts. > Please feel free to contact me should you need further help in resolving > this matter. > > > Best Regards, > James M. Tucciarone > Director > Middle Office > Allegheny Energy Global Markets > (212)224-7052 > > -----Original Message----- > From: Rhonda.L.Denton@enron.com [mailto:Rhonda.L.Denton@enron.com] > Sent: Tuesday, May 15, 2001 3:03 PM > To: jtucciarone@aeglobalmarkets.com > Cc: Carol.St.Clair@enron.com; Elsie.Lew@enron.com > Subject: Merrill/Allegheny Deals > > > (See attached file: merrillissue.xls) > Here is a spreadsheet of deals done since 3/19/01, the closing date for the > transfer. Locke indicated that the deals in yellow are the ones that are > Merrill deals. The ones in blue were traded the day of the closing and > were supposed to be netted and were not included on the transfer exhibit.> > Therefore, they stayed as Merrill in our books. Please confirm which are > Merrill deals and which are Allegheny. We will need confirmation after > this review with our attorney as to where these deals will be booked. > > Another question that has arisen is whether Allegheny traders are trading > for Merrill Lynch. These issues need to be resolved so that we do not > continue to have these questions when our settlements people try to check > out at month end. Thanks for your help. > >