EFTA Document EFTA01433271

Subject: [/] FX Trade idea: Time to buy USDJPY FVA? [C] From: Martin Zeman Date: Fri, 22 Sep 2017 07:57:40 -0400 To: "Paul Barrett ( Cc: Vahe Stepanian Stewart Oldfield Xavier Avila Joshua Shoshan Davide-A Sferrazza Classification: Confidential Good morning, Paul, Not sure you look at FVA stuff, but this one in USDJPY looks good to me. Martin fcid:[email protected] Trade Ideas Buy ly2y USDJPY FVA at 10.50% Current 2y Implied volatility is at 9.95% Rationale The US