EFTA01479470

Subject: USD/MXN Follow-U From: Vahe Stepanian < Date: Wed, 26 Feb 2014 16:23:24 -0500 To: Cc: Paul Morris Classification: Confidential Harry / Jeanne, > Per our conversation - Pershing uses the "end of day" (EOD) price from the day before settlement date. For the buy trade, they used EOD 1/15, and for the sell trade, they used EOD 1/28. Both of Jeffrey's MXN Spot transactions were executed on the same trade date as the bonds (1/14 and 1/27, respectively). Chart and Tazia's email included below. Please let me know should you have any additional questions. Thank you, Vahe Forwarded by Vahe Stepanian/db/dbcom on 02/26/2014 04:18 PM From: Tazia Smith/db/dbcom To: r Cc: Paul Morris, Vahe Stepanian/db/dbcom@DBAmericas Date: 02/24/2014 11:44 AM Subject: USDMXN [C] Classification: Confidential Harry - As discussed, I am following up to identify where those "Exchange Rates" denoted with the bond purchase/sale on the Monthly Pershing statements are coming from. The below is just an illustration of the currency's volatility over the relevant time period. I will be back with the explanation and resolution ASAP. EFTA01479470 Regards, Tazia (Embedded image moved to file: pic05814.gif) Used with permission of Bloomberg Finance LP (Embedded image moved to file: pic13921.gif) Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc Deutsche Asset & Wealth Management le (Embedded image moved to file: pic28567.gif) EFTA01479471