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sd-10-EFTA01383681Dept. of JusticeOther

EFTA Document EFTA01383681

From: Vahe Stepanian [ Sent: 6/7/2016 7:03:22 PM To: r I fi I seph Dursi a; Andrew King CC: Daniel Sabba ; Brianna Fowler Subject: RE: (No Subject) [II Yes, I'll reply now. Vahe Stepanian Key Client Partners ---Original Message--- From: Stewart Oldfield Sent: Tuesday, June 07, 2016 06:52 PM Eastern Standard Time To: Vahe Stepanian; Joseph Dursi; Andrew King Cc: Daniel Sabba; Brianna Fowler Subject: Re: (No Subject) [1] Classification: For Internal Use Only Can you or Daniel

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sd-10-EFTA01383681
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From: Vahe Stepanian [ Sent: 6/7/2016 7:03:22 PM To: r I fi I seph Dursi a; Andrew King CC: Daniel Sabba ; Brianna Fowler Subject: RE: (No Subject) [II Yes, I'll reply now. Vahe Stepanian Key Client Partners ---Original Message--- From: Stewart Oldfield Sent: Tuesday, June 07, 2016 06:52 PM Eastern Standard Time To: Vahe Stepanian; Joseph Dursi; Andrew King Cc: Daniel Sabba; Brianna Fowler Subject: Re: (No Subject) [1] Classification: For Internal Use Only Can you or Daniel

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Text extracted via OCR from the original document. May contain errors from the scanning process.
From: Vahe Stepanian [ Sent: 6/7/2016 7:03:22 PM To: r I fi I seph Dursi a; Andrew King CC: Daniel Sabba ; Brianna Fowler Subject: RE: (No Subject) [II Yes, I'll reply now. Vahe Stepanian Key Client Partners From: Stewart Oldfield Sent: Tuesday, June 07, 2016 06:52 PM Eastern Standard Time To: Vahe Stepanian; Joseph Dursi; Andrew King Cc: Daniel Sabba; Brianna Fowler Subject: Re: (No Subject) [1] Classification: For Internal Use Only Can you or Daniel reply to Rich so he knows we're working it? Copy in me, joe, andrew and anna. Thanks Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue. New York. NY 10154 Securities offered through Deutsche Bank Securities Inc. From: Vahe Stepanian Sent: Tuesday, June 07, 2016 06:18 PM To: Stewart Oldfield; Joseph Dursi; Andrew King Cc: Daniel Sabba; Brianna Fowler Subject: RE: (No Subject) [I) Yes, generally that's a good start. Happy to discuss further tmw morning. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0083458 CONFIDENTIAL SDNY GM_00229642 EFTA01383681

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Subject: Re: indication on WTI risk reversals [C] From: Stewart Oldfield Date: Thu, 09 Jun 2016 11:51:19 -0400 To: Andrew King <[email protected]> Classification: Confidential Seems low. Where would be on a static basket of the top few positions? Can we swap to a managed account? With dynamic margin, maybe initial advance is higher. You should see if vahe has any ideas. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park

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From: Stewart Oldfield Sent: 6/7/2016 6:52:36 PM To: Vahe Stepanian CC: Subject: ; Joseph Dursi Daniel Sabba [email protected]]; Brianna Fowler Re: (No Subject) (I) Classification: For Internal Use Only ; Andrew King Can you or Daniel reply to Rich so he knows we're working it? Copy in me, joe, andrew and anna. Thanks Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Tel: Mobile: bl

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Subject: Re: Southern Financial - IA Request [I] From: Stewart Oldfield Date: Wed, 29 Jun 2016 08:28:07 -0400 To: Vahe Stepanian Cc: Daniel Sabb Andrew King Classification: For Internal Use Only So is is same for all names? Stewart Oldfield, CFA, CAIA Director Deutsche Deutsche 345 P Tel: Mobile: Email: Bank Trust Company Americas Bank Wealth Management w York, NY 10154 blackberry Securities offered through Deutsche Bank Securities Inc. From: Vahe Stepanian Sent: Wednesday,

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Subject: Re: indication on WTI risk reversals [C] From: Stewart Oldfield Date: Thu, 09 Jun 2016 12:35:39 -0400 To: Andrew King ‹ > Classification: Confidential Meaning they post daily variation margin when the mtm moves against them. Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Tel: Mobile: blackberry Email: Securities offered through Deutsche Bank Securities Inc. From: Andrew King S

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Subject: RE: indication on WTI risk reversals [C] From: Andrew King Date: Thu, 09 Jun 2016 12:33:26 -0400 To: Stewart Oldfield ‹ > Classification: Confidential I'll check on the top positions and see if there is an alternative solution with Vahe (total return swap on the index or ETF?).. I'm not sure we can do a TRS on a managed portfolio. What do you mean by dynamic margin? From: Stewart Oldfield Sent: Thursday, June 09, 2016 11:51 AM To: Andrew King Subject: Re: indication on WTI r

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Subject: RE: (No Subject) [I] From: Vahe Stepanian Date: Tue, 07 Jun 2016 19:03:22 -0400 To: Stewart Oldfield Joseph Dursi Andrew King Cc: Daniel Sabba Brianna Fowler Yes, I'll reply now. Vahe Stepanian Key Client Partners Deutsche Bank Securities Inc. Tel. Mobile Email Original Message From: Stewart Oldfield Sent: Tuesday, June 07, 2016 06:52 PM Eastern Standard Time To: Vahe Stepanian; Joseph Dursi; Andrew King Cc: Daniel Sabba; Brianna Fowler Subject: Re: (No Subject) [I

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