proj x analytics diligence paul vince spent time thinking diligence process trading analytics limited amount accomplished two day time period think reasonable start would following 1 obtain audited history trading strategies implemented order verify profitability p l volatility 2 review needed working capital risk capital requirements compare projections trading income 3 review current level access electronic markets verify change ownership would adverse consequences e guarantees continued access using current systems 4 review feasibility entry proposed new markets far clear synergy commodity markets given current limited electronic liquidity 5 review least qualitatively current trading strategies used try develop estimate fast profitability strategies disappear implement similar trading models trade trade quantity slippage 6 review methodology used generate new trading strategies needed replace current models become unprofitable outdated 7 try determine value transfer trading technology enron markets given illiquidity markets compared financial equity markets sufficiently long time horizon analysis would probably want run system test set data let know suggestions stinson