  We analyze a method to produce pairs of non independent Poisson processes
$M(t),N(t)$ from positively correlated, self-decomposable, exponential
renewals. In particular the present paper provides the family of copulas
pairing the renewals, along with the closed form for the joint distribution
$p_{m,n}(s,t)$ of the pair $\big(M(s),N(t)\big)$, an outcome which turns out to
be instrumental to produce explicit algorithms for applications in finance and
queuing theory. We finally discuss the cross-correlation properties of the two
processes and the relative timing of their jumps
