re : potential gas system exposure i agree with your concerns . i didn ' t go into all the specifics previously
because of the audience of the e - mail . this is the intended procedure for
use of the dummy account :
both the east and the west load gas books into the enpower system nightly
( this is not one person ' s responsibility but the entire group ' s
responsibility ) .
previously , the only message we get for this load is a success that all the
books went somewhere in enpower
with the installation of the new ' dummy ' account , the message will now tell
us if one of the books was loaded to this ' dummy ' account
if an eol bridge mistakenly puts gas deals in a power gas book that was not
correctly mapped , the position would go to the ' dummy ' account
if an eol bridge mistakenly puts gas deals in a power gas book that was
correctly mapped , the position would show up in that trader ' s gas positions
depending on which load ( east or west ) has a book that was mapped to the
' dummy ' account will determine which group investigates ( with it ) what however , with the new ' alert ' it will
provide us better data than we had before and it will keep the unmapped
positions out of the west portfolio .
the only time the west would be affected by this change in the future is if a
new power gas book is set up for your traders .
i hope i have addressed your concerns . if i have not , please give me a call
or e - mail me back .
thanks ,
stacey ( 3 - 1870 )
to : stacey w white / hou / ect @ ect
cc :
subject : re : potential gas system exposure
does any of this impact the west anymore ? who is going to be " alerted when
positions are loaded to the ' dummy ' account . " ? what ' s the procedure for
resolving ? what happens if eol dumps trades to a dummy account ? what
happens if the person who is watching the dummy account is out sick or on
vacation or leaves enron or is asleep at the wheel ?
given the volatility of the commodities that we are trading and the fact that
manual processes inevitably create errors ( as is evidenced by a $ 7 million
hit we took yesterday because one keystroke on deal entry was done
incorrectly last summer ) i think it ' s important to raise these issues .
to : tim belden / hou / ect @ ect
cc : john j lavorato / enron @ enronxgate , sally beck / hou / ect @ ect , beth
perlman / enron @ enronxgate , steve nat / enron @ enronxgate , sheri
thomas / hou / ect @ ect
subject : re : potential gas system exposure
the mapping problem mentioned below is a power desk problem only . the
mapping problem is purely between the interface of the gas and power trading
systems and does not affect the book if it is strictly a gas trader ' s gas
book . there was one instance when a gas trader ' s transactions were
incorrectly bridged to a power trader ' s gas book through eol . the root of
this problem was with the eol bridge not the interface mapping .
the procedure to set up a gas book for power traders includes communication
to it regarding the appropriate interface mapping of the book . if for some
reason the mapping does not occur , the position will be mapped to a ' dummy '
default desk . we will be alerted when positions are loaded to the ' dummy '
account on a nightly basis in order to investigate the problem and ensure
that positions do no get lost in the system .
if anyone needs to further discuss the problem we have been having and why it
is only the power world that is affected , please give me a call .
thanks ,
stacey
( 3 - 1870 )
from : tim belden 02 / 14 / 2001 05 : 25 pm
to : john j lavorato / corp / enron , stacey w white / hou / ect @ ect , sally
beck / hou / ect @ ect , beth perlman / hou / ect , steve nat / corp / enron
cc :
subject : potential gas system exposure
for some period of time , various west power desks have been the default desk
which received gas positions for new books that were not properly setup in
tagg . i have worked with our risk team and the techology group to get west
power out of this problem . i ' m happy with the result from the west power
point of view .
i am writing to alert you that one half of the problem still exists . if
someone does a gas deal and hasn ' t set up a new book properly and doesn ' t
carefully track his / her position , the trade goes into a dummy book that
nobody manages . days , weeks , or months later you discover the trade and take
the hit or the gain . i think that this risk is real because we were the ones
finding the misplaced gas trades before - - not the gas desk with the
misplaced trade . now nobody will find them unless the gas trader realizes
that some of his / her position is missing .
these are the facts as i understand them . i ' m sure that stacey white , steve
nat , and monica lande could fill you in with more detailed information . let
me know if i can be of further assistance .
- - - - - - - - - - - - - - - - - - - - - - forwarded by tim belden / hou / ect on 02 / 14 / 2001 02 : 18 pm
- - - - - - - - - - - - - - - - - - - - - - - - - - -
monica lande
02 / 14 / 2001 02 : 34 pm
to : tim belden / hou / ect @ ect
cc : fran chang / pdx / ect @ ect , valarie sabo / pdx / ect @ ect , samantha
law / pdx / ect @ ect
subject : re : remaining problem with west tot
tim ,
steve has described the problem accurately . setting up a dummy book solves
the problem for us , but not for enron as a whole . if no one monitors the
dummy book on the daily basis ( which probably won ' t happen if there is no
ownership ) , then you still have the possibility of positions falling into
that book and never showing up in the book that they were intended . why
can ' t a process be put in place for the initial set - up of a book in tagg ?
monica
to : fran chang / pdx / ect @ ect , monica lande / pdx / ect @ ect , valarie
sabo / pdx / ect @ ect , samantha law / pdx / ect @ ect
cc :
subject : re : remaining problem with west tot
do you guys agree ?
- - - - - - - - - - - - - - - - - - - - - - forwarded by tim belden / hou / ect on 02 / 14 / 2001 01 : 23 pm
- - - - - - - - - - - - - - - - - - - - - - - - - - -
from : steve nat / enron @ enronxgate on 02 / 14 / 2001 03 : 49 pm cst
to : tim belden / hou / ect @ ect , stacey w white / hou / ect @ ect
cc : beth perlman / enron @ enronxgate
subject : re : remaining problem with west tot
tim , the root problem was related to the default mapping logic in the
' interface ' job that moves the erms gas calc results to the portcalc results
tables . if mapping logic is not set up for a new book , the job was
defaulting the gas deals to the st - plt desk . the default mapping has been
changed to a dummy zz _ erms book , which will prevent the deals from showing
up in the wrong book if the mapping logic is not updated .
in reference to beth ' s concerns . . . turns out this was a limitation in our
production code , not an it change to production data , so we should be ok on
that front .
the long - term solution would be to remove the hard - coded logic , set - up table
structures , and maintain the mapping rules through a user screen . given our
other priorities , and the default logic change , we will not pursue this
option .
let me know if you have any other questions or concerns .
steve
- - - - - original message - - - - -
from : belden , tim
sent : wednesday , february 14 , 2001 11 : 49 am
to : white , stacey
cc : perlman , beth ; nat , steve
subject : re : remaining problem with west tot
thanks for the concise description of the problem . i should have cc ' d you on
the original message . your description is much better than mine . now that
beth has a better understanding of the issue , how long will it take to get
solved ! ?
to : beth perlman / enron @ enronxgate @ enron
cc : tim belden / hou / ect @ ect , steve nat / enron @ enronxgate @ enron
subject : re : remaining problem with west tot >
the problem is not that we should enter a reversing trade in the system as
this would misrepresent the positions across the board . the problem is that
the position belongs to another book within enpower . the users have no
access to the screens which define where our gas books are mapped in enpower ;
therefore , it has to manually define the correct mapping for us . when the
manual fix has not been made , we have true positions for one book mapped to
another book .
stacey
from : beth perlman / enron @ enronxgate on 02 / 14 / 2001 11 : 14 am
to : tim belden / hou / ect @ ect , steve nat / enron @ enronxgate , stacey w
white / hou / ect @ ect
cc :
subject : re : remaining problem with west tot
tim ,
sorry about this . a better question to ask is why are systems people
manipulating data ? why can ' t the users put on a reversing trade ? i ' m having
fits about it resources touching production data and i can ' t tell you how
many times we screw ourselves up because it does this .
i ' ll let you know the end result . sorry again , but these practices have to
stop !
beth
- - - - - original message - - - - -
from : belden , tim
sent : wednesday , february 14 , 2001 7 : 59 am
to : beth perlman / hou / ect @ enron
subject : remaining problem with west tot
words cannot describe how distressing this problem is . in terms of
mis - reporting our risk , we are dropping mmbtu ' s from some other book into our
book as mwhs . mmbtus go for around $ 10 . mwhs go for around $ 400 . why is
this problem so hard to fix ?
- - - - - - - - - - - - - - - - - - - - - - forwarded by tim belden / hou / ect on 02 / 14 / 2001 04 : 58 am
- - - - - - - - - - - - - - - - - - - - - - - - - - -
>
fran chang
02 / 13 / 2001 06 : 27 pm
to : tim belden / hou / ect @ ect
cc : monica lande / pdx / ect @ ect , valarie sabo / pdx / ect @ ect , samantha
law / pdx / ect @ ect
subject : remaining problem with west tot
tim :
please note that as of 2 / 13 there will still be 1 , 321 mwhs of nymex swap
position in st - plt book ( cob ) which is yet to be cleared out by it . i have
sent out an email to norman lee in it and will follow up with him to make
sure this problem is removed asap . ( the " unknown " position of the - 311 , 354
mwhs showing up on 2 / 12 has already been taken cared of . )
regards ,
fran
x 7973
re : potential gas system exposure
i agree with your concerns . i didn ' t go into all the specifics previously
because of the audience of the e - mail . this is the intended procedure for
use of the dummy account :
both the east and the west load gas books into the enpower system nightly
( this is not one person ' s responsibility but the entire group ' s
responsibility ) .
previously , the only message we get for this load is a success that all the
books went somewhere in enpower
with the installation of the new ' dummy ' account , the message will now tell
us if one of the books was loaded to this ' dummy ' account
if an eol bridge mistakenly puts gas deals in a power gas book that was not
correctly mapped , the position would go to the ' dummy ' account
if an eol bridge mistakenly puts gas deals in a power gas book that was
correctly mapped , the position would show up in that trader ' s gas positions
depending on which load ( east or west ) has a book that was mapped to the
' dummy ' account will determine which group investigates ( with it ) what however , with the new ' alert ' it will
provide us better data than we had before and it will keep the unmapped
positions out of the west portfolio .
the only time the west would be affected by this change in the future is if a
new power gas book is set up for your traders .
i hope i have addressed your concerns . if i have not , please give me a call
or e - mail me back .
thanks ,
stacey ( 3 - 1870 )
to : stacey w white / hou / ect @ ect
cc :
subject : re : potential gas system exposure
does any of this impact the west anymore ? who is going to be " alerted when
positions are loaded to the ' dummy ' account . " ? what ' s the procedure for
resolving ? what happens if eol dumps trades to a dummy account ? what
happens if the person who is watching the dummy account is out sick or on
vacation or leaves enron or is asleep at the wheel ?
given the volatility of the commodities that we are trading and the fact that
manual processes inevitably create errors ( as is evidenced by a $ 7 million
hit we took yesterday because one keystroke on deal entry was done
incorrectly last summer ) i think it ' s important to raise these issues .
to : tim belden / hou / ect @ ect
cc : john j lavorato / enron @ enronxgate , sally beck / hou / ect @ ect , beth
perlman / enron @ enronxgate , steve nat / enron @ enronxgate , sheri
thomas / hou / ect @ ect
subject : re : potential gas system exposure
the mapping problem mentioned below is a power desk problem only . the
mapping problem is purely between the interface of the gas and power trading
systems and does not affect the book if it is strictly a gas trader ' s gas
book . there was one instance when a gas trader ' s transactions were
incorrectly bridged to a power trader ' s gas book through eol . the root of
this problem was with the eol bridge not the interface mapping .
the procedure to set up a gas book for power traders includes communication
to it regarding the appropriate interface mapping of the book . if for some
reason the mapping does not occur , the position will be mapped to a ' dummy '
default desk . we will be alerted when positions are loaded to the ' dummy '
account on a nightly basis in order to investigate the problem and ensure
that positions do no get lost in the system .
if anyone needs to further discuss the problem we have been having and why it
is only the power world that is affected , please give me a call .
thanks ,
stacey
( 3 - 1870 )
from : tim belden 02 / 14 / 2001 05 : 25 pm
to : john j lavorato / corp / enron , stacey w white / hou / ect @ ect , sally
beck / hou / ect @ ect , beth perlman / hou / ect , steve nat / corp / enron
cc :
subject : potential gas system exposure
for some period of time , various west power desks have been the default desk
which received gas positions for new books that were not properly setup in
tagg . i have worked with our risk team and the techology group to get west
power out of this problem . i ' m happy with the result from the west power
point of view .
i am writing to alert you that one half of the problem still exists . if
someone does a gas deal and hasn ' t set up a new book properly and doesn ' t
carefully track his / her position , the trade goes into a dummy book that
nobody manages . days , weeks , or months later you discover the trade and take
the hit or the gain . i think that this risk is real because we were the ones
finding the misplaced gas trades before - - not the gas desk with the
misplaced trade . now nobody will find them unless the gas trader realizes
that some of his / her position is missing .
these are the facts as i understand them . i ' m sure that stacey white , steve
nat , and monica lande could fill you in with more detailed information . let
me know if i can be of further assistance .
- - - - - - - - - - - - - - - - - - - - - - forwarded by tim belden / hou / ect on 02 / 14 / 2001 02 : 18 pm
- - - - - - - - - - - - - - - - - - - - - - - - - - -
monica lande
02 / 14 / 2001 02 : 34 pm
to : tim belden / hou / ect @ ect
cc : fran chang / pdx / ect @ ect , valarie sabo / pdx / ect @ ect , samantha
law / pdx / ect @ ect
subject : re : remaining problem with west tot
tim ,
steve has described the problem accurately . setting up a dummy book solves
the problem for us , but not for enron as a whole . if no one monitors the
dummy book on the daily basis ( which probably won ' t happen if there is no
ownership ) , then you still have the possibility of positions falling into
that book and never showing up in the book that they were intended . why
can ' t a process be put in place for the initial set - up of a book in tagg ?
monica
to : fran chang / pdx / ect @ ect , monica lande / pdx / ect @ ect , valarie
sabo / pdx / ect @ ect , samantha law / pdx / ect @ ect
cc :
subject : re : remaining problem with west tot
do you guys agree ?
- - - - - - - - - - - - - - - - - - - - - - forwarded by tim belden / hou / ect on 02 / 14 / 2001 01 : 23 pm
- - - - - - - - - - - - - - - - - - - - - - - - - - -
from : steve nat / enron @ enronxgate on 02 / 14 / 2001 03 : 49 pm cst
to : tim belden / hou / ect @ ect , stacey w white / hou / ect @ ect
cc : beth perlman / enron @ enronxgate
subject : re : remaining problem with west tot
tim , the root problem was related to the default mapping logic in the
' interface ' job that moves the erms gas calc results to the portcalc results
tables . if mapping logic is not set up for a new book , the job was
defaulting the gas deals to the st - plt desk . the default mapping has been
changed to a dummy zz _ erms book , which will prevent the deals from showing
up in the wrong book if the mapping logic is not updated .
in reference to beth ' s concerns . . . turns out this was a limitation in our
production code , not an it change to production data , so we should be ok on
that front .
the long - term solution would be to remove the hard - coded logic , set - up table
structures , and maintain the mapping rules through a user screen . given our
other priorities , and the default logic change , we will not pursue this
option .
let me know if you have any other questions or concerns .
steve
- - - - - original message - - - - -
from : belden , tim
sent : wednesday , february 14 , 2001 11 : 49 am
to : white , stacey
cc : perlman , beth ; nat , steve
subject : re : remaining problem with west tot
thanks for the concise description of the problem . i should have cc ' d you on
the original message . your description is much better than mine . now that
beth has a better understanding of the issue , how long will it take to get
solved ! ?
to : beth perlman / enron @ enronxgate @ enron
cc : tim belden / hou / ect @ ect , steve nat / enron @ enronxgate @ enron
subject : re : remaining problem with west tot >
the problem is not that we should enter a reversing trade in the system as
this would misrepresent the positions across the board . the problem is that
the position belongs to another book within enpower . the users have no
access to the screens which define where our gas books are mapped in enpower ;
therefore , it has to manually define the correct mapping for us . when the
manual fix has not been made , we have true positions for one book mapped to
another book .
stacey
from : beth perlman / enron @ enronxgate on 02 / 14 / 2001 11 : 14 am
to : tim belden / hou / ect @ ect , steve nat / enron @ enronxgate , stacey w
white / hou / ect @ ect
cc :
subject : re : remaining problem with west tot
tim ,
sorry about this . a better question to ask is why are systems people
manipulating data ? why can ' t the users put on a reversing trade ? i ' m having
fits about it resources touching production data and i can ' t tell you how
many times we screw ourselves up because it does this .
i ' ll let you know the end result . sorry again , but these practices have to
stop !
beth
- - - - - original message - - - - -
from : belden , tim
sent : wednesday , february 14 , 2001 7 : 59 am
to : beth perlman / hou / ect @ enron
subject : remaining problem with west tot
words cannot describe how distressing this problem is . in terms of
mis - reporting our risk , we are dropping mmbtu ' s from some other book into our
book as mwhs . mmbtus go for around $ 10 . mwhs go for around $ 400 . why is
this problem so hard to fix ?
- - - - - - - - - - - - - - - - - - - - - - forwarded by tim belden / hou / ect on 02 / 14 / 2001 04 : 58 am
- - - - - - - - - - - - - - - - - - - - - - - - - - -
>
fran chang
02 / 13 / 2001 06 : 27 pm
to : tim belden / hou / ect @ ect
cc : monica lande / pdx / ect @ ect , valarie sabo / pdx / ect @ ect , samantha
law / pdx / ect @ ect
subject : remaining problem with west tot
tim :
please note that as of 2 / 13 there will still be 1 , 321 mwhs of nymex swap
position in st - plt book ( cob ) which is yet to be cleared out by it . i have
sent out an email to norman lee in it and will follow up with him to make
sure this problem is removed asap . ( the " unknown " position of the - 311 , 354
mwhs showing up on 2 / 12 has already been taken cared of . )
regards ,
fran
x 7973