EFTA01453577

From: Tazia Smith Sent: 4/3/2014 9:10:38 AM To: Matthew ()Connor CC: Paul Morris Subject: RE: Commodities Trader Ill Attachments: pk26413.0;pic14174.0;pic11521jpg:pic06310jpg;pic12923jpg;pk18265jpg:pk14234jpg;pk06265jpg; pk26214jpg;pk23222jpg;pk052324itpk205964if Classification: For internal use only Thank you Matt (Embedded image moved to file: pic26413.gif) Tazia Smith Director I Key client Partners - US DB Securities Inc Deutsche Asset & wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA Emai (Embedded image moved to file: pic14174.gif) From: Matthew OConnor/db/ To: Taziasmith/db , Paul marris/db/I Date: 04/03/2014 09:10 AM Subject: RE: Commodities Trader [I] classification: For internal use only I can confirm that at this level of business there is no way to justify the manual resources needed to give this guy a full pricing grid each day on 100 lots of short dated options. That said, it looks to me, that right now on BBG, the price would be .55 to unwind (DB pays him). From: Tazia Smith Sent: Thursday, April 03, 2014 9:03 AM To: Paul Morris; Matthew OConnor Subject: Fw: commodities Trader [I] Importance: High Classification: For internal use only Paul - I know how sensitive this relationship is. Please let me know how you would like me to respond. matt - pls confirm that we cannot provide the same 'spreadsheet' output of strikes and tenors for OTC pricing. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 111255 CONFIDENTIAL SDNY_GM_00257439 EFTA01453577