re : authorised traders : montreal & chicago how about this for a business model for an origination and trading outfit . salesperson talks to customer customer agrees to trade salesperson phones trading desk and gets price ( trading desk is london or ny - nb : all lines are taped ) salesperson tell customer customers says ok salesperson says " done " to customer and trading desk trading desk books deal , middle and back office processes kicks in , sends out and chases up confirm etc accounting process identifies value added by salesperson and gives them a piece of the price as a credit no bank accounts or signing authority in sales office no accountants , middle office people or other similar humans in the sales office , just sales people all hedging and risk taking resident in trading books in ny or london can we not make this work ? dp to : bjorn hagelmann / hou / ect @ ect cc : sally beck / hou / ect @ ect , ted murphy / hou / ect @ ect , shona wilson / na / enron @ enron , david port / market risk / corp / enron @ enron , mike jordan / lon / ect @ ect , robert soeldner / lon / ect @ ect , tim poullain - patterson / lon / ect @ ect subject : re : authorised traders : montreal & chicago bjorn as discussed , given joe ' s comments below , a note to confirm that this being dealt with internally . rob soeldner has made it clear to joe that : enron places great importance on trading controls . these are non - negotiatable . the suggested course of action is not an option we aren ' t seeking to close any of the agency offices given implemetation of these controls . joe is not in yet - rob will be discussing with him further when the us gets in . of note - joe is on the commercial side , marcelo parra who is responsible for the operational side is fully onboard for the operational changes made . regards andy - - - - - - - - - - - - - - - - - - - - - - forwarded by andrew cornfield / lon / ect on 09 / 11 / 2000 11 : 07 - - - - - - - - - - - - - - - - - - - - - - - - - - - joe robertson @ mgusa 08 / 11 / 2000 20 : 38 to : tim poullain - patterson / lon / ect @ ect cc : andrew cornfield / lon / ect @ ect , lloyd fleming / lon / ect @ ect , marcelo parra / nyc / mgusa @ mgusa , michael farmer / eu / enron @ enron @ ect , naomi connell / lon / ect @ ect , robert soeldner / lon / ect @ ect , sam hainsworth / eu / enron @ enron @ ect subject : re : authorized traders : montreal & chicago as a practical matter the procedures outlined are not workable . we need to find a way to go forward that works and can satisfy all concerned . either the people in these offices can be entrusted to transact and execute business or we should consider closing these offices and relocating some of the people which i do not believe makes any sense at all . joseph e . robertson , jr . enron metals & commodity corp . 520 madison avenue 28 th floor new york , ny 10022 tel : 212 . 715 . 5254 fax : 212 . 715 - 2357 e - mail : joe . robertson @ enron . com