EFTA Document EFTA01386997

From: Stewart Oldfield Sent: 9/25/2017 5:09:12 PM To: Bradley GiIlin BCC: Subject meeting notes - Southern Financial Please add to DB force under Southern Financial and Paul S. Barrett/Alpha Group Capital. There should be a few in there already for SF 9/20/17 DB —Stewart Oldfield, Todd Stevens, Dan Kaiser, Xavier Avila, Martin Zeman, Josh Shoshan Southern Financial — Rich Kahn (CFO) and Paul Barrett (portfolio manager) Met to introduce DB team to Paul Paul opened his own RIA with Southern Financial as their initial client Discussed plans to trade SF LLC and STC accounts Will look at all asset classes Requires a great deal of coverage support from DB Will be a major ramp in trading once up and running More color below From: Martin Zeman Sent: Wednesda , Se tember 20, 2017 12:57 PM To: Paul Barrett ; Richard Kahn Cc: Xavier Avila Joshua Shoshan ; Daniel-E Kaiser • ; Stewart Oldfield >; Vahe ; Davide-A Sferrazza ; Liam Osullivan Subject: Great to meet you! Paul, Richard, It was a pleasure meeting you both this morning. As a follow-up, we will prioritize the ISDA re-activation so we can get going as soon as possible. In the meantime, we can start sending you trade ideas that we find interesting. Attached is a research piece Jim Reid (Deutsche Bank's most read analyst) published on Monday discussing where the Next Financial Crisis could come from. Clearly he doesn't agree with Nassim Taleb's black swan theory, but it's an interesting read. Follow-up items: Research access Flowchart for the rest of the team Electronic communications form Grid on pricing Equities pricing agreed: • $0.04 per share Options - $3.00 per contract (≥ $1 premium) - $1.00 per contract (< $1 premium) CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0088985 CONFIDENTIAL SDNY_GM_00235169 EFTA01386997