22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Bid/ask spread: 30bps Avg. daily vol: USD300mn Ref. Source: LATAMNDF2=DBNY, Bloomberg: DBLMl<GO> Fixing page: www.sbs.gob.pe Cross r or rency sr.vap. Regulatory: ISDA documentation. Standard does available at EMTA (www.emta.org) Standard Contract: 6M Libor vs. PEN nominal fixed; net settled at maturity; with final exchange; settled offshore in USD Liquidity: Moderate Avg. ticket size: USD10mn Bid/ask spread: 10bp Avg. daily vol: USD20mn Non-Deliverable Option (NDO) Liquidity: Very Poor Avg. daily vol: < USDlOmn Deutsche Bank Securities Inc. Page 109 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0076912 CONFIDENTIAL SDNY_GM_00223096 EFTA01379436