Subject: Re: Trade recap (DB / SOFL) [C]
From: Tazia Smith ‹ >
Date: Fri, 18 Apr 2014 11:51:33 -0400
To: Paul Morris ‹ >
Classification: Confidential
Looking into it
Tazia Smith
Director
Key Client Partners - US
Deutsche Bank Securities, Inc.
Deutsche Asset & Wealth Management
345 Park Avenue - 26th Floor
New York NY 10154
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From: Paul Morris
Sent: 04/18/2014 08:06 AM EDT
To: Tazia Smith
Subject: Fw: Trade recap (DB / SOFL) [C]
Classification: Confidential
Hi, can he trade commodities with us as agent? He feels we didn't tell him
matt was acting as principal. I sent him a note that we can all talk monday
From: Matthew OConnor
Sent: 04/17/2014 08:39 PM EST
To: Paul Morris
Cc: Tazia Smith
Subject: Re: Trade recap (DB / SOFL) [C]
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Classification: Confidential
Call me Monday
From: Paul Morris
To: Matthew ()Connor
Cc: Tazia Smith
Sent: Thu Apr 17 19:42:51 2014
Subject: Re: Trade recap (DB / SOFL) [C]
Classification: Confidential
Matt, need some help here, why does he feel we are trading against him if we
are principal?
From: Matthew OConnor
Sent: 04/17/2014 03:20 PM EST
To: "jeevacation@gmail.com" <jeevacation@gmail.com>
Cc: Paul Morris; Tazia Smith; Laura Krattli; Jatin Bindal; Amit Garg; MO
Commodities; James Fordham; Prateek Jain; Stavros Valavanis
Subject: Re: Trade recap (DB / SOFL) [C]
Classification: Confidential
Jeffrey -
I used 2 prices that approximated where the market was trading. Since we
traded as a package, the legs are really more for reference.
We act as a principal, not agent. We take market risk.
Thanks,
Matt
From: Jeffrey Epstein <jeevacation@gmail.com>
To: Matthew ()Connor
Cc: Paul Morris; Tazia Smith; Laura Krattli; Jatin Bindal; Amit Garg; MO
Commodities; James Fordham; Prateek Jain; Stavros Valavanis
Sent: Thu Apr 17 15:12:03 2014
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Subject: Re: Trade recap (DB / SOFL)
Was told puts were 12 both ways . Do I am clear are you guys acting for me
or principal against me
On Thursday, April 17, 2014, Matthew OConnor wrote:
Classification: External Communication
Jeffrey -
Thanks for the trade. To recap:
Underlying: Jun14 WTI
Bloomberg code: CLM4 <comdty>
RMS Counterparty code: SOFL
SOFL sells $101 call for $3.27/bbl
SOFL buys $93.5 put for $.15/bbl
Premium: DB pays $3.12/bbl ($312,000)
Notional: 100,000 bbls on each leg
Both legs knock out if on any day CLM4 fixes below $20/bbl.
This trade fully unwinds existing trade.
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