Attached is the ERMS Discounting Memo as of 9/26/01.
Please note that the 9/26/2001 balance is based on the new method of calculating the discounting amount.
The changes that were made are as followed:  			Old method	New method Physical contract 	55 days		55 days Financial contract	55 days		5 days Financial calendar	55 days		38 days  Please let me know if you have questions.
Thanks

ERMS Discounting Memo
Attached is the ERMS Discounting Memo as of <NUMBER>/<NUMBER>/<NUMBER>.
Please note that the <NUMBER>/<NUMBER>/<NUMBER> balance is based on the new method of calculating the discounting amount.
The changes that were made are as followed: Old method New method Physical contract <NUMBER> days <NUMBER> days Financial contract <NUMBER> days <NUMBER> days Financial calendar <NUMBER> days <NUMBER> days Please let me know if you have questions.
Thanks
erms discounting memo financial calendar old followed let balance know questions thanks