EFTA Document EFTA01436522

Subject: RE: Southern Financial From: Nadean Novogratz Date: Fri, 05 Oct 2018 -0400 To: Erik Lutkus Cc: Martin Zeman Stewart Oldfie Xavier Avila < Davide-A Sferrazza Devin Anderson < Pengcong Lin Classification: For internal use only Yes, I see them now. We're good to go then — thanks! From: Erik Lutkus Sent: Friday, October 05, 2018 2:55 PM To: Nadean Novogratz Cc: Martin Zeman; Stewart Oldfield; Xavier Avila; Davide-A Sferrazza; Devin Anderson; Pengcong Lin Subject: RE: Southern Financial - Listed Deriv Docs [I] Classification: For internal use only I just double checked with PC, you should see them GEDX with customer code = Southern Kind regards, Erik Lutkus {cid:image001.gif@OlCEEF5D.621E6840} Deutsche Bank Securities Inc. Tel. From: Nadean Novogratz Sent: Friday, October 05 2018 2:15 PM To: Erik Lutkus Cc: Martin Zeman ; Stewart Oldfield >; avier vi a Davide-A EFTA01436522 Sferrazza ; Devin Anderson Subject: Southern Financial - Listed Deriv Docs [I] Classification: For internal use only Hi Erik, Please see attached the 2 listed derive docs for Southern Financial. What are next steps to getting them set-up? I can speak to the GedApps team to have their name added to Axiom_ anything else you need from me? Kind regards, Nadean From: Paul Barrett [mailto: Sent: Friday, October 05, 2018 2:09 PM To: Nadean Novogratz Cc: Martin Zeman; Stewart Oldfield; Xavier Avila; Davide-A Sferrazza; Devin Anderson Subject: RE: Follow-up Finally_.. Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 (o) (c) EFTA01436523 {cid:image006.jpg@OlD45CB4.424A47E0} iliMM From: Nadean Novogratz Sent: Friday, Se To: Paul Barrett Cc: Martin Zeman ; 5 a < ; Davide-A Sferrazza ; Devin n erson Subject: RE: Follow-up Hi Paul, Thanks very much — if you have any questions about either documents, we're here to help. Kind regards, Nadean From: Paul Barrett [mailto: Sent: Friday, September 21, 2018 11:35 AM To: Nadean Novogratz Cc: Martin Zeman; Stewart Oldfield; Xavier Avila; Davide-A Sferrazza; Devin Anderson Subject: RE: Follow-up Hi Nadean Apologies for the radio silence. Will get docs back asap. EFTA01436524 Paul Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 (o) (c) fcid:image006.jpg@OlD45CB4.424A47E01 From: Nadean Novogratz Sent: Thursday, July 26, 2018 5:01 PM To: Paul Barrett Cc: Martin Zeman Stewart Oldfield Xavier Avila Sferrazza ; Devin Anderson Subject: FoT ow-up Hi Paul, ; Davide-A Great to meet you over the phone today and discuss our derivatives offerings / market color. As mentioned, Southern Financial is fully onboarded to trade OTC equity derivatives here. We've reviewed our docs for listed options and just need 2 simple forms completed (attached). They are pretty straight forward but we're here to answer any questions on them that you have. Per Devin's comments on short-term upside, below are charts that compare SPY ATM vs 2% out of the money upside in the near-term experies. Vols are in EFTA01436525 the 8v range for the 2% OTM calls and as you can see for the next four weeks term structure is flat. We've continued to see the spot up / vol up correlation remain positive and if this theme continues, now is a good entry level into buying inexpensive vol. SPY ATM Calls: {cid:image007.png@OlD45C84.424A47E0} SPY 2% Upside Calls: {cid:image008.png@OlD45C84.424A47E0} Kind regards, Nadean Nadean Novogratz Deutsche Bank Securities Inc. Global Equity Derivative Sales 60 Wall Street, 4th Floor New York, NY 10005 Tel. Cell Email EFTA01436526 Please click on this link and read the disclaimer: https://ederivatives.db.com/static/disclaimer.html This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Please refer to https://db.com/disclosures for additional EU corporate and regulatory disclosures. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Please refer to https://db.com/disclosures for additional EU corporate and regulatory disclosures. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Please refer to https://db.com/disclosures for additional EU corporate and regulatory disclosures. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA01436527