Subject: RE: [/1 FX Trade idea: Time to buy USDJPY FVA? [C] From: Martin Zeman Date: Mon, 25 Sep 2017 08:29:41 -0400 To: Paul Barrett Cc: Vahe Stepanian Stewart Oldfi Xavier Avila Joshua Shoshan Davide-A Sferrazza Classification: Confidential Paul, Back to your question on how wide we make the vol markets on the USDJPY FVA idea we discussed Friday. The two-way price on the way in is half a vol wide max and possibly tighter. On the unwind the same or less. Meaning the total transactions costs between inception and unwind should be half a vol or less. Martin From: Paul Barrett [mailto: Sent: Friday, September 22 2017 8:16 AM To: Martin Zeman Cc: Vahe Stepanian < Shoshan ; Stewart Oldfield er Avila Joshua ; Davide-A Sferrazza Subject: Re: [/] FX Trade idea: Time to buy USDJPY FVA? [C] Looks interesting. EFTA01438039