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Enron Mail |
Notice No. 00-337
September 29, 2000 To: ALL NYMEX/COMEX DIVISION MEMBERS/MEMBER FIRMS ALL NYMEX/COMEX DIVISION CLEARING MEMBERS ALL NYMEX/COMEX DIVISION FLOOR TRADERS ALL NYMEX/COMEX DIVISION OPERATIONS MANAGERS From: Neal Wolkoff, Executive Vice President Re: Selection of Kiodex as enymexSM system provider The Exchange and Kiodex Inc., an application service provider of=20 risk-management solutions for the commodity markets, have agreed on terms t= o=20 use the Kiodex Trade Engine as the order-matching system for enymexsm, the= =20 Exchange=01,s e-commerce venture that is intended to become the premier, gl= obal=20 exchange for trading and clearing a wide range of standardized physical=20 commodity contracts, with an initial focus in the energy and metals markets= . The Exchange and Kiodex have further agreed to co-market Kiodex=01,s compan= ion=20 product, the Kiodex Risk Workbench, which will be highly compatible with th= e=20 Kiodex Trade Engine on enymexsm. The Kiodex Risk Workbench will provide=20 state-of-the-art portfolio management and risk analytics to its customers. The Kiodex Trade Engine is an automated, scalable, fault-tolerant=20 order-matching system that will enable customers to enter orders for cash a= nd=20 derivative commodity products and receive executions and confirmations. enymexsm, which will be launched early in 2001, will provide a global=20 one-stop shop for commodity risk management, providing a neutral=20 internet-based trading and clearing platform for energy and metals products= =20 that were previously limited to over-the-counter markets where participants= =20 are exposed to counterparty credit risk. The Exchange plans to use its prov= en=20 clearing infrastructure to introduce complete counter-party risk management= ,=20 and create net margining with Exchange futures markets by calculating a=20 consolidated clearing position. Subsequent enymexsm functionality will als= o=20 provide an internet-based interface to the established Exchange futures=20 market by routing futures orders to the trading floor and the NYMEX ACCESSc= =20 electronic trading system, depending on the session. Kiodex builds trading and risk-management technology and solutions for=20 internet-based commodity markets. Kiodex was created to increase the safety= ,=20 fairness, transparency, and liquidity of commodity markets. By embedding=20 Kiodex=01,s technology in traditional and emergent commodity exchanges, por= tals,=20 and web sites, the Company enables users to trade fairly and encourages the= =20 proper management of financial products that mitigate risk. Its home page i= s=20 www.kiodex.com. __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/email_log.cfm?useremail=3Dtana.jones@enron.com&= refdo c=3D(00-337)" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
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