Re: 5 each

In US financial trading (derivatives) we send the attachment each time, but
it should only be 4 or 5 pages long. This may be different in the physical
trading world - I'll check into it.

Louise Kitchen
01/21/2000 02:48 PM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: Re: 5 each

Thoughts?
---------------------- Forwarded by Louise Kitchen/LON/ECT on 01/21/2000
08:46 PM ---------------------------

Raphael Brun
01/21/2000 06:42 PM
To: Louise Kitchen/LON/ECT@ECT
cc: Ellen Wallumrod/LON/ECT@ECT

Subject: Re: 5 each

Thank you Louise,

Just one remark which came back to me already a couple of time.

When we close a transaction with our normal counterparties, why do we need to
send the GTC each time since when we close OTC witrh these same
counterparties, this is not necessary ?

They are finding that our confirmations are 13 pages long for a single swap.
Do you think we could avoid sending the GTC for some of our most active
counterparties ?

Regards

Raphael