From: Richard Kahn

From: Richard Kahn To: Vahe Stepanian Cc: "jeffrey E." <jeevacation®gmail.com>, Daniel Sabba < Subject: Re: USDJPY call expiring today - Buy JPY? [C] Date: Fri, 21 Nov 2014 02:10:56 +0000 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York, NY 10022 On Nov 20, 2014, at 10:05 AM, Vahe Stepanian < Classification: Confidential Got it. Done as follows: Client BuySell Currencyl Notionall Currency2 Notional2 SettlementDate SpotRate TradeType SOUTHERN FINANCIAL LLC Client Sells USD -856,295.0402713 JPY 101,000,000 Tue 25 November 2014 117.95 FxSpot From: Jeffrey E. [mailto:jeevacationegmail.coml Sent: Thursday, November 20, 2014 9:54 AM To: Vahe Stepanian Subject: Re: USDJPY call expiring today - Buy JPY? [C] buy and settle On Thu, Nov 20, 2014 at 9:52 AM, Vahe Stepanian Classification: Confidential Thanks Jeffrey. Please confirm that you would like to sell USDJPY per the below. From: Jeffrey E. [manto:eevacSom Sent: Thursday, November 20, 2014 9:40 AM To: Vahe Stepanian Subject: Re: USDJPY call expiring today - Buy _WY? [C] > wrote: > wrote: EFTA01001894 sell On Thu, Nov 20, 2014 at 9:30 AM, Vahe Stepanian Classification: Confidential > wrote: Good Morning Jeffrey - recall you have a USDJPY call expiring today (was part of your cost-neutral triple one touch). Unrealized gain —$145k. Details are as follows: BuySell Client Buys Currencyl USD CP Call Notionall 1,000,000 Currency2 JPY Notional2 -101,000,000 Strike 101.00 ZoneCut NY: 10:00 hours (Local time in New York) ExpiryDate Thu 20 November 2014 SettlementDate Tue 25 November 2014 FixingReference SPOT Premium 44,800 PremiumTerms USD TradeDate Mon 25 November 2013 Please confirm you would like to purchase 101,000,000 JPY (currently 118.27) to settle trade and take profit. Alternatively, you can roll forward - happy to provide levels if so. Thank you, Vahe <image001.png> Vahe Stepanian Associate I Key Client Partners Deutsche Bank Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154-0004 Bloomberg: All trade execution information contained herein is being provided as an accommodation at your request in advance of your receipt of the official trade confirmation(s). Additional trade detail information available upon request. The terms of the trade(s) may be subject to change prior to settlement, and therefore the official trade confirmation(s) and account statements issued by Deutsche Bank shall govem. Deutsche Bank is not responsible for any discrepancy between the informal execution report and the official trade confirmation(s) or account statements. This communication may contain confidential and/or privileged information. 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It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender EFTA01001896 immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA01001897