EFTA01388643.pdf

From: Martin Zeman Sent: 9/25/2017 8:29:41 AM To: Paul Barrett CC: Vahe Stepanian ; Stewart Oldfield Xavier Avila ;Joshua Shoshan ; Davide-A Sferrazza Subject: RE: (/J FX Trade idea: Time to buy USDJPY FVA? (CI Classification: Confidential Paul, Back to your question on how wide we make the vol markets on the USDJPY FVA idea we discussed Friday. The two-way price on the way in is half a vol wide max and possibly tighter. On the unwind the same or less. Meaning the total transactions costs between inception and unwind should be half a vol or less. Martin From: Paul Barrett [mailto Sent: Friday, September 22, 2017 8:16 AM To: Martin Zeman < Cc: Vahe Stepanian >; Stewart Oldfield ; Xavier Avila ;Joshua Shoshan < >; Davide-A Sferrazza < Subject: Re: [/[ FX Trade idea: Time to buy USDJPY FVA? ICJ Looks interesting. Please clarify how DB looks at these. We assign a $ value per point with a linear payout in lyrs time? ISDA required? Paul Paul Barrett On Sep 22, 2017, at 7:57 AM, Martin Zeman wrote: Classification: Confidential Good morning, Paul, Not sure you look at FVA stuff, but this one in USDJPY looks good to me. Martin <image003.png> Trade Ideas CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092313 CONFIDENTIAL SDNY_GM_00238497 EFTA01388643