EFTA Document EFTA01479473

Subject: USD/MXN Follow-Up [C] From: Vahe Stepanian Date: Wed, 26 Feb 2014 16:23:24 -0500 To: Cc: Paul Morris Classification: Confidential Harry / Jeanne, Per our conversation - Pershing uses the "end of day" (EOD) price from the day before settlement date. For the buy trade, they used EOD 1/15, and for the sell trade, they used EOD 1/28. Both of Jeffrey's MXN Spot transactions were executed on the same trade date as the bonds (1/14 and 1/27, respectively). Chart and Tazia's email included below. Please let me know should you have any additional questions. Thank you, Vahe Forwarded by Vahe Stepanian From: Tazia Smith/db/dbcom Paul Morris, Vahe Stepania Subject: USDMXN [C] Classification: Confidential Harry - on 02/26/2014 04:18 PM Date: As discussed, I am following up to identify where those "Exchange Rates" denoted with the bond purchase/sale on the Monthly Pershing statements are coming from. The below is just an illustration of the currency's volatility over the relevant time period. I will be back with the explanation and resolution ASAP. Regards, EFTA01479473 Tazia Used with permission of Bloomberg Finance LP Tazia Smith Director I Key Client Partners - US Deutsche Bank Securities Inc • i's I 11.1.i'll'l EFTA01479474