From: Barrett, Paul S Sent: Wednesday, March 14, 2012 2:21 PM To: Epstein, Jeffrey ([email protected]) Cc: Giuffrida, David Subject: Time to do the BRL trade <=iv class="WordSectionl"> Jeff=ey =o:p> I t=ink we should do $SMM of this. Bearish USD / bullish BRL forward extra <=pan style="font-size:11.0pt;font-family:"Calibri","sans=serif"">1) </=pan>Client buys USD put/ BRL call @ 1.7= =span style="mso-list:lgnore">2) Client sells USD call / BRL put @ 1.78 with <=>at expiry RKI @ 1.95 Costless let me know Paul &n=sp; =OA Pa=l Barrett, CFA Managing Direc=or 1 EFTA_R1_01445200 EFTA02405019

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