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Since this is a financial trade, it was referred to Mark Taylor.
Mike -----Original Message----- From: Bruce, Michelle Sent: Thursday, November 08, 2001 12:24 PM To: Miroballi, Angelo; Glover, Sheila; Swinney, John; Robison, Michael A. Cc: Horn, Cindy; Niesler, Stefan Subject: FW: JPY WTI Swap I received this from the Tokyo office. John - I am not sure what book this will go it. Could you check and see if EOL / Nowlan is aware of transaction if it will be part of our books? Sheila - The deal discusses much interaction w/ Gary Hickerson on the FX side. Are you aware? Angelo - Looks like they want to settle via ENA. Are you on board w/ this? Michael - from a legal aspect, is ENA set up for this type of trade? Thanks, Michelle xt. 57532 -----Original Message----- From: Niesler, Stefan Sent: Wednesday, November 07, 2001 12:18 AM To: Bruce, Michelle Subject: JPY WTI Swap Michelle, Sorry for calling you at home yesterday. Please find attached the documentation as promised. As Jan-Erland mentioned, the transaction is very straight forward. It is basically the same product as the existing 24/7 USD WTI Swap. The only difference is the contract currency which is JPY. The floating price in the transaction once it is determined needs to be converted into JPY. To do this we use the mid of the Bid and Offer FX rate published by the Bank of Tokyo-Mitsubishi. You can find this FX rate on Reuters (page TKFF). As ENA will be counterparty in this transaction you will probably be involved in the settlement. What we wanted to make sure is that you feel happy in getting all relevant numbers for a smooth settlement. A quick response from you side would be highly appreciated. Thank you! Kind Regards, Stefan Niesler +81 3 5219 4645 << File: Product Memo - modified (barrel).doc <<
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