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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Raymond Duray who wrote (4997)	10/26/2001 3:02:28 PM
From: John Pitera	Read Replies (1) of 33421

could be, a CSFB analyst was on cnbc yesterday, I think it was Ron Barone, and he was commenting that ENE is a market maker and the majority of it's trades are end to end, and he seemed to be saying that ENE was the intermediary but did not have an outright long or short position on these transactions. It seems that they are the biggest marketmaker due to the very big success of their EnronOnline trading platform. On thursday Enronline had something like 8000 transaction with 147 counterparties. but we'll have to see if business drys up. Who knows if Barone is correct on this, I know that A huge bank like Chase in the late 1980's was doing very large volumes of FX dealing in New York, but were not taking large positional bets on currency movements. Not compared to some of the other financial institutions. Chase had a lot of big global corporate customers, who were engaged in their primary business, but had to send money flows back and forth between different currencies. But ENE is another matter and the financial bookkeeping at ENE is not good. btw most of the ENE stuff I've posted is over on this thread Message 16564187

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