EFTA Document EFTA01387064

From: Xavier Avila Sent: 12/7/2017 4:10:16 PM To: Paul Barrett CC: Stewart Oldfield ; Joshua Shoshan ; Martin Zeman Subject: RE: DB EX trade idea: EURZAR-USDZAR correlation swap Attachments: SF_CorrelationSwap_Dec17.xlsx Paul, I was with trading today. We have seen also good interest in TRY correlation from fast money, the numbers look as good or better than MXN, similar downside and higher upside vs average and min realized correlation. Thanks ZAR Corr Difference Strike 82.50%