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Enron Mail |
All,
RRL, a new counterparty, has applied for EOL access to trade gas, crude and weather derivatives. Since the company is "A" rated by S&P and has strong operating performance, Credit does not have any issues extending a tentative threshold of $10MM. The issue resides in the confirmation of the deals. All weather transactions must be confirmed under an ISDA or Deemed ISDA, and then we encounter netting problems with the Deemed ISDA and the normal EOL confirm. I am going to prepare and ISDA worksheet to start the negotiation process. In the interim, all deals MUST BE confirmed under a Deemed ISDA. Darren Vanek
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