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sd-10-EFTA01479767Dept. of JusticeOther

EFTA Document EFTA01479767

Subject: Re: S&P risk reversals.... (I] From: Paul Morris < Date: Fri, 10 Oct 2014 To: Tazia Smith < Cc: Daniel Sabba Vahe Stepanian Classification: For internal use only new hire started this week, going to work with me, Director comes from CS, very sophisticated around derivatives, alts, single stock, he will come up on Tuesday to meet you, i believe he has met Daniel Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York, NY 10154 Office:

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sd-10-EFTA01479767
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Subject: Re: S&P risk reversals.... (I] From: Paul Morris < Date: Fri, 10 Oct 2014 To: Tazia Smith < Cc: Daniel Sabba Vahe Stepanian Classification: For internal use only new hire started this week, going to work with me, Director comes from CS, very sophisticated around derivatives, alts, single stock, he will come up on Tuesday to meet you, i believe he has met Daniel Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York, NY 10154 Office:

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Subject: Re: S&P risk reversals.... (I] From: Paul Morris < Date: Fri, 10 Oct 2014 To: Tazia Smith < Cc: Daniel Sabba Vahe Stepanian Classification: For internal use only new hire started this week, going to work with me, Director comes from CS, very sophisticated around derivatives, alts, single stock, he will come up on Tuesday to meet you, i believe he has met Daniel Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York, NY 10154 Office: Cell: From: Tazia Smith/db/dbcom To: Cc: Paul Morris/db/dbcom@DBAMERICAS, Daniel Sabba/db/dbcom@DBAMERICAS, Vahe Stepanian/db/dbcom@DBAMERICAS Date: 10/10/2014 10:51 AM Subject: Re: S&P risk reversals.... (I] Classification: For internal use only sure. who's stewart? (Embedded image moved to file: pic03523.gif) Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA Tel. Fax Mobile Email (Embedded image moved to file: pic06724.gif) EFTA01479767 From: Paul Morris/db/dbcom To: Cc: Tazia Smith/db/dbcom@DBAMERICAS, Daniel Sabba/db/dbcom@DBAMERICAS, Vahe Stepanian/db/dbeom@DBAMERICAS, Date: 10/10/2014 10:48 AM Subject: Re: S&P risk reversals.... (I) Classification: For internal use only good morning, please cc Stewart going forward, thanks Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York, NY 10154 Office: Cell: From: Tazia Smith/db/dbcom To: [email protected], Cc: Paul Morris, Daniel Sabba/db/dbcom@DBAMERICAS, Vahe Stepanian /db/dbcom@DBAmericas Date: 10/10/2014 10:33 AM Subject: S&P risk reversals.... (C) Classification: Confidential Good Morning Jeffrey - S&P listed options indicative levels below. If you have an upside view on US big caps, consider a risk reversal. Example: 1895p/1925c SPX November risk reversal +$0.20 premium collected, offer side (Bloomberg) ref: 1917.01 Example: 186p/193c SPY March risk reversal +$0.02 premium collected, offer side (Bloomberg) ref: 191.53 EFTA01479768 (Embedded image moved to file: pic01619.gif) (Embedded image moved to file: pic29860.gif) (Embedded image moved to file: pic07329.gif) Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset a Wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA Tel. Fax Mobil Email (Embedded image moved to file: pic27786.gif) EFTA01479769

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Subject: Re: S&P risk reversals.... I] From: Tazia Smith < Date: Fri, 10 Oct 2014 11:08:05 -0400 To: Paul Morris Cc: Daniel Sabba < Vahe Stepanian < Classification: For internal use only fantastic! congratulations! (Embedded image moved to file: pic16947.gif) Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset & 345 Park Avenue Tel. Fax Mobile Email Wealth Management 10154-0004 New York, NY, USA (Embedded image moved to file: pic19173.gif) From:

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TO: Tazia Smith/db , Cc: Daniel Sabba/db , vahe Stepanian/db , Date: 10/10/2014 10:48 AM Subject: Re: S&P risk reversals.... [I] classification: For internal use only good morning, please cc Stewart going forward, thanks Paul Morris Managing Director Deutsche Bank Private Bank 345 Park Avenue, 27th Floor New York NY 10154 office: Cell: From: Tazia Smith/db/dbcom To: [email protected], Cc: Paul Morris, Daniel Sabba/db/ Vahe Stepanian/db Date: 10/10/2014 10:33 AM Sub

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From: Paul Morris Sent: 10/10/2014 10:48:33 AM To: Tazia Smith I CC: Daniel Sabba ; Vahe Stepanian Subject: Re: S&P risk reversals.... II] Attachments: pic02273.gif; pic31716.gif; pic32617.gif; pic27358.gif Classification: For internal use only good morning, please cc Stewart going forward, thanks Paul Morris Managing Director Deutsche Bank Private Bank From: To: Tazia Smith/db/dbcom [email protected], cc: Paul Morris, Daniel sabba/db/dbcom@DBAmERIcAs, vahe Stepanian/d

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Subject: Re: USD/MXN Follow-U From: Vahe Stepanian < Date: Wed, 26 Feb 2014 16:36:00 -0500 To: Cc: Paul Morris < >, Classification: Confidential Harry - further (per our conversation), the spot trades were executed as follows: 1) 1/14: Bought MXN 39,253,441.02 @ 13.0975 (USD $2,997,017.83) 2) 1/27: Sold MXN 38,199,653.10 @ 13.4415 (USD $2,841,918.91) These were executed at the same time as the buy/sell of the Mex bonds Hope this helps. Vahe From: Vahe Stepanian/db/dbcom To: Cc:

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Subject: Re: [C] From: Tazia Smith a> Date: Wed, 29 Oct 2014 10:57:27 -0400 To: jeffrey E. <[email protected]> Cc: Daniel Sabba Paul Morris Richard Kahn Stewart Oldfield Vahe Stepanian Classification: Confidential Jeffrey - Just tried your cell. You are done on 36,600 at $24.22315. Do you want to pull back the throttle by reducing the total share for today's order or using a limit? Please let us know. From: Tazia Smith/db/dbcom To: "jeffrey E." <'eevacation@ mail.com>@DEUBAINT,

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