From: Sferrazza
Sent: 12/18/2017 12:35:50 PM
To: Stewart Oldfield
CC: Vahe Ste•anian ;Joshua Shoshan
; Martin Zeman Liam Osullivan ILiam.osullivan@db.coml
Subject: RE: Paul Barrett / Epstein week of 12/11/17 (CI
Classification: Confidential
Good eye — thank you for catching
From: Stewart Oldfield
Sent: Monday, December 18, 2017 12:35 PM
To: Davide-A Sferrazza <
Cc: Vahe Ste • anian Xavier Avila >; Joshua Shoshan
, Martin Zeman < ; Liam Osullivan
Subject: RE: Paul Barrett / Epstein week of 12/11/17 (C)
Classification: Confidential
Thanks. That was definitely the # that made me take notice.
From: Davide-A Sferrazza
Sent: Monday, December 18 2017 12:34 PM
To: Stewart Oldfield <
Cc: Vahe Ste •anian Xavier Avila >; Joshua Shoshan
; Martin Zeman < >; Liam Osullivan <
Subject: RE: Paul Barrett / Epstein week of 12/11/17 [C]
Classification: Confidential
DB does not collect the fees — they are charged by the exchange and are passed on to the SEC for domestic trades, or
the relevant party for foreign trades.
Your question made me notice a mistake on my behalf when I went back to check the fees — please see the attached
revised spreadsheet.
I didn't adjust the Naspers trade commission for FX - the trade was done in ZAR, so the commission was USD 100 (not
USD 1,365), and thus the 17,711.18 of fees on that trade is actually USD 1,297.52. We confirmed that the Johannesburg
Stock Exchange charges 25bps on buys, hence the larger fee on this trade compared to the others.
From: Stewart Oldfield
Sent: Monday, December 18, 2017 12:02 PM
To: Davide-A Sferrazza <
Cc: Vahe Ste anian >; Joshua Shoshan
Martin Zeman >; Liam Osullivan <fl
Subject: RE: Paul Barrett / Epstein week of 12/11/17 [C]
Classification: Confidential
Thanks. Do we recognize the fees as well?
CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0087974
CONFIDENTIAL SDNY_GM_00234158
EFTA01386327