EFTA01300859.pdf

From: David J Giuffrida < > Sent: 12/21/2010 4:50:14 PM Subject: DivStox< Jeff, Due to the lack of liquidity this week, the bids we received on the EuroStoxx this morring were lower than we expected. The Divstoxx are up today however we would give that up on the sale due to wider than usual bid/offers. The trader advised that unless necessary to sell now, it would be advantageous to hold off until next week. Paul and I will continue to get bids everyday to see if anything improves, Let us know if you have any questions. SDNY_GM_00078129 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00001256 EFTA_00188596 EFTA01300859