EFTA01356920.pdf

by Client fix its internal business 20.3 In relation to blind principal portfolio purposes only. trades only, DB may, subject to clause 20.2, deal in financial instruments (or 19.6 In some circumstances Client may be related instruments) which ultimately prohibited or restricted under Applicable form part ofClient's portfolio trade in the Law from receiving materials or services period between Client asking DB to of the type referred to in clause 19.4 and provide a quote for the portfolio trade and 19.5 or permitted to receive such the time that Client awards the trade by materials or services only if it pays for placing the order with DB. Whilst DB's them out of its own resources or certain dealings arc not intended to cause any procedures are followed. Client significant impact on prices, DB's undertakes to determine whether it is able dealings could affect the prices that by reason of Applicable Law to accept Client pays or receives for transactions in such materials or services on the terms on the portfolio financial instruments. In which they are provided and to notify DB conducting such dealings, DB personnel promptly if it is considers that it is unable may take into account information that to do so. Client agrees that DB does not Client provides when asking DB to quote make any representation or undertaking for the portfolio trade and any in relation to whether such materials or information held regarding Client's services can be received by Client, free of previous trading activity. charge or otherwise. 20.4 In relation to disclosed principal portfolio 20. PORTFOLIO TRADING trades only, to the extent that DB commits its proprietary capital to 20.1 DB may execute blind principal portfolio purchase or sell financial instruments, trades, which are trades executed by DB DB may, subject to clause 20.2 and in on a principal basis in which neither the accordance with Applicable Law, effect direction of the trade nor the identity of hedging transactions to mitigate the risk the portfolio financial instruments are incurred in connection with such revealed to DB until after the trade has principal transactions taking into account been awarded to DB. They are to be information supplied by Client. These distinguished from disclosed principal hedging transactions may be effected portfolio trades where the direction of the before the principal transaction is trade and the financial instruments executed in full and may impact the involved are revealed to DB before the prices at which financial instruments are trade is awarded. purchased or sold in the principal 20.2 DB personnel who have knowledge ofthe transaction. contents of Client's portfolio trade order, be it a blind principal portfolio trade or a 21. PERSONAL DATA disclosed principal portfolio trade, will 21.1 Where any personal data is made not deal in the financial instruments available to DB by Client in connection specified in Client's order in the time with the transactions and activities between Client placing the order for the contemplated by these Terms of portfolio trade with DB and the strike Business, DB shall ensure that such time of the portfolio trade, unless DB has personal data is processed in accordance either obtained Client's prior consent or with: (i) applicable data protection law, DB is able to demonstrate that it has (ii) relevant contracts between Client and provided fair treatment to Client. DB, including these Terms of Business. and (iii) the applicable privacy notice CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0043121 CONFIDENTIAL SDNY_GM_00189305 EFTA01356920