Subject: cutoff time for eol gas transactions
i talked to each of you a couple of weeks ago , and this topic got pushed
aside due to some other pressing issues . however , each of you agreed that a
standard cutoff time was acceptable for us gas , power and liquids products .
the best option will be to agree to cutoff at 4 pm each day ( just to get an
idea of the numbers we were talking about , i looked at yesterday to determine
how many deals were traded after 4 pm houston time . we had three us gas
deals , and two canadian gas deals ) . after 4 pm , the bridges would
automatically roll new eol deals to the next day . however , for those deals
that do not bridge after 4 pm , the various risk groups would need to remember
that these deals are the following day ' s business . i am not sure how the
procedures in risk would need to be modified for the trader ' s position
reports , as the official books would not include these late deals . can risk
run supplemental reports to ensure that the desks have accurate positions
each morning ?
i would appreciate any comments that you may have , and regardless , please
re - confirm that a cutoff of 4 pm works for each of your respective groups .
sheri
x 36557
mike - any potential problems with the dpr ?
peggy - we discussed briefly a few weeks back . . . any thoughts ?