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Enron Mail |
My answers below in red.
Bob Bowen 10/19/2000 10:39 AM To: Mark Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT cc: Subject: City Streets I assume you have heard that EOL is soliciting HoustonStreet.com and QuickQuote.com in order to increase their volume and market coverage. The message below is from Ron Nolte, our IT person for the confirmation systems. I think he is asking some very pertinent questions that may need your legal opinion. I guess my fear is that you have not been included in the conversations and set-up of EOL's discussions with HoustonStreet.com and QuickQuote.com. ---------------------- Forwarded by Bob Bowen/HOU/ECT on 10/19/2000 10:26 AM --------------------------- Ron Nolte 10/16/2000 12:37 PM To: Bob Bowen/HOU/ECT@ECT, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Jeff Johnson/Corp/Enron@Enron cc: Subject: City Streets Just came back from a meeting in which Jennifer deBoisblanc Denny and Torrey Moorer informed everyone about the new venture between HoustonStreet.Com and Enron and QuickQuote.com and Enron. In 90 days, HoustonStreet.Com and QuickQuote.com will be offering products offered on EOL. I solicit comments from everyone. As I understand it, a party wishing to trade gas and power can log onto HoustonStreet.Com and deals offered on EOL will magically appear. The party might think, "Hey, I can't do better than this on EOL, I'll take this deal". The deal is transacted and HoustonStreet.Com number is assigned. As soon as the "Do the Deal" button is clicked, the transaction is sent to EOL where it is validated. An EOL deal number is assigned but as far as the party doing the deal is concerned, the deal is a HoustonStreet.Com deal. In the case of a gas deal, the deal will be bridged to both Sitara and TAGG. The deal at this point would have four deal numbers: HoustonStreet.Com Deal # EOL Deal # Sitara Deal # TAGG Deal # Based on the meeting, the following requirements surfaced. If you are in TAGG, you should be able to access the deal using HoustonStreet.Com Deal #, or the EOL Deal #, or the TAGG Deal #. If you are in DCAF II, you should be able to access the deal using HoustonStreet.Com Deal #, or the EOL Deal #, or the Sitara Deal #. This requirement implies that the capture windows in TAGG and Sitara ( I assume ) will need to be changed to capture both the HoustonStreet.Com Deal # and EOL Deal #. The TAGG Deal number itself is assigned by the Capture program. This will require a database change as well as fairly significant ( it was assumed that there is only one "Originating System") program modifications to TAGG Deal Capture, TAGG Deal Clearing, DCAF II, and Enpower Autoconfirm ( clears Power deals ). Now for some issues: 1) Who is the internal party on the deal that is to appear on the confirmation? Whichever Enron entity offers that product on EnronOnline will be the party for these trades as well. Will a HoustonStreet.Com and a QuickQuote internal party be set up in Global Counterparty? There are implications for Global Counterparty since all address information is set up based on who the external party is doing business with. In other words, if there are new internal parties, the address information set up for these same external parties that do trades on EOL will have to be set up again for doing business with the new internal parties. 2) Is the confirm to sport a HoustonStreet.Com logo and a QuickQuote.com logo? No. The confirms may reference the platform on which the trade was done but otherwise it should look just like a regular Enron confirmation. 3) Who is to sign the confirmation letters when signatures are required? Same process as exists for EnronOnline transactions. 4) Contract numbers will have to be set up just as they are for trading under EOL. But who are the contracts between? If new internal parties are set up for HoustonStreet.Com and QuickQuote.com, then contracts will have to be set up between the new internal parties. But since a HoustonStreet.Com deal goes through EOL, how will the appropriate contract be assigned?; i.e., if Koch does a deal through HoustonStreet.Com, is a different contract assigned in EOL versus if Koch does the deal through EOL itself? Seems to me it should be the same - we only have one agreement with Koch.
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