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sd-10-EFTA01364996Dept. of Justice

EFTA Document EFTA01364996

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very low for historical standards. Many catalysts for why a EUR sell-off could happen, from renewed ECB monetary expansion, weak data out of Germany and faster US recovery leading to a stronger USD, between others. 3m ATmF implied vol in EURUSD (source: Bloomberg) (Embedded image moved to file: pic08442.gif) Please note all prices are indicative and subject to change without notice. Regards, Daniel (Embedded image moved to file: pic03603.gif) Daniel sabba Director I Key client Partners

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Dept. of Justice
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sd-10-EFTA01364996
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