EFTA Document EFTA01474017

Subject: FW: Southern Financial and Southern Trust ISDA/CSAs [I] From: Paul Morris ‹ > Date: Tue, 21 Jul 2015 11:58:07 -0400 To: Daniel Sabba Vahe Stepanian Please keep me posted and coordinated so I can post chip if needed as compliance may reach out to him Thx Original Message From: Roddy Moore Sent: Tuesday, July 21, 2015 11:53 AM Eastern Standard Time To: Paul Morris; Vahe Stepanian; Troy-D Williams Cc: Stewart Oldfield; Daniel Sabba; Andrew Xu Subject: RE: Southern Financial and Southern Trust ISDA/CSAs [I] As discussed with Daniel, the amendment is being worked in parallel with Daniel's getting Compliance feedback. However, once completed, the draft won't get released until we get Compliance's concurrence in writing. Roddy Moore Credit Risk Management Deutsche Asset & Wealth Management From: Paul Morris Sent: Tuesday, July 21, 2015 11:32 AM To: Vahe Stepanian; Troy-D Williams; Roddy Moore Cc: Stewart Oldfield; Daniel Sabba; Andrew Xu Subject: RE: Southern Financial and Southern Trust ISDA/CSAs [I] Team where are we with this ? Please let me know if I can be helpful. Thanks Original Message EFTA01474017 From: Vahe Stepanian Sent: Tuesday, July 07, 2015 10:27 AM Eastern Standard Time To: Troy-D Williams; Roddy Moore Cc: Paul Morris; Stewart Oldfield; Daniel Sabba; Andrew Xu Subject: Southern Financial and Southern Trust ISDA/CSAs [I] Classification: For internal use only Troy/Roddy — we are following up on our conversations last week regarding Southern Financial and Southern Trust's existing ISDAs with Deutsche Bank. As mentioned, the CSAs currently have USD 40mm and USD 10mm "Tier I Ceiling Limit" respectively (ISDA/CSAs are attached). The client has requested that we increase Southern Financial LLC's Tier I Ceiling Limit to USD 100mm. On Thursday 7/2/15, Southern Financial sold EURUSD calls to offset the cost of purchasing EURUSD puts, which required that SFLLC post collateral. Per the STG FX desk, given the size of the sold calls (EUR 75mm notional), Southern Financial is using up a significant portion of its' current Tier 1 capacity per the CSA. Given the client has already indicated that he may wish to add to his positions, we would like to understand the process by which we can amend the CSA to grant the client additional capacity. Back in November 2014 (<1y), we received the attached upd EFTA01474018