Message-ID: <30293558.1075858602348.JavaMail.evans@thyme> Date: Fri, 14 Sep 2001 02:48:45 -0700 (PDT) From: legal <.taylor@enron.com> To: n..gray@enron.com, sara.shackleton@enron.com Subject: FW: Energy Market - ISDA Statement Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Taylor, Mark E (Legal) X-To: Gray, Barbara N. , Shackleton, Sara X-cc: X-bcc: X-Folder: \MTAYLO1 (Non-Privileged)\Taylor, Mark E (Legal)\Sent Items X-Origin: Taylor-M X-FileName: MTAYLO1 (Non-Privileged).pst From what I have heard, this looks pretty good. But I wonder if paragraph 1(c) is correct. Is this what was agreed or should this refer to any spread transaction including a NYMEX, COMEX or Platt's price and another price (whether one of those 3 or not)? And finally, I don't understand the penultimate paragraph at all but since you guys are closer to the discussions it may make sense to you. Can you guys confirm this with the traders and report our comments and/or agreement to ISDA? Thanks! Mark -----Original Message----- From: Kimberly Summe @ENRON [mailto:IMCEANOTES-Kimberly+20Summe+20+3CKSumme+40isda+2Eorg+3E+40ENRON@ENRON.com] Sent: Friday, September 14, 2001 1:46 AM Cc: Robert Pickel; Jeff Golden; Stacy Carey; Ruth Ainslie; Diane Genova Subject: Energy Market - ISDA Statement Importance: High As part of its efforts to assist the markets resolve certain issues arising out of this week's events, ISDA has been asked to consider the implications of certain continuing problems with futures exchanges and price source publications for commodity derivatives. Attached in the form of a draft statement from ISDA are a series of proposals that have been made by a number of institutions active in the OTC commodity derivatives area to resolve pricing difficulties. We welcome your comments on these proposals. The purpose of this distribution is to encourage all participants in the markets for these products to consider the issues raised and, we hope, to come to some consensus position that can be reflected in a statement in the style of the attached draft by ISDA. Please send any comments to Kimberly Summe (ksumme@isda.org) as soon as possible on Friday morning. Please contact me at ISDA at 212-332-1203 if you have any questions. Kimberly Summe General Counsel <> - Commodity Statement.doc