Southern Financial LLC entered into transactions with Deutsche Bank AG involving Total Return Swaps and European Call options on TWTR shares. The transactions include a long position on TWTR through ly TRS and a short position on TWTR European Calls. The initial strike is based on VWAP until the close of the day, with a 30% initial margin. The expiry date for both transactions is 1/27/2016.
doj/DataSet10/EFTA01383622.pdf
{"title":"Trade Recap - 01/27/2015 - Long TWTR on ly TRS, Short TWTR ly calls","key_people":["Daniel Sabba","Jeffrey E.","Vahe Stepanian","Paul Morris","Richard Kahn"],"document_date":"2015-01-27","document_type":"correspondence","key_locations":["London"],"document_subtype":"memo","key_organizations":["Southern Financial LLC","Deutsche Bank AG"],"reference_numbers":["DB-SDNY-0083364","SDNY_GM_00229548","EFTA01383622"]}