<?xml version="1.0" encoding="UTF-8"?><!-- 
	== Copyright (c) 2002-2010. All rights reserved. 
	== Financial Products Markup Language is subject to the FpML public license. 
	== A copy of this license is available at http://www.fpml.org/license/license.html-->
<FpML xmlns="http://www.fpml.org/2010/FpML-4-9" xmlns:fpml="http://www.fpml.org/2010/FpML-4-9" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" version="4-9" xsi:type="RequestTradeConfirmation" xsi:schemaLocation="http://www.fpml.org/2010/FpML-4-9 ../fpml-main-4-9.xsd http://www.w3.org/2000/09/xmldsig# ../xmldsig-core-schema.xsd">
   <header><!-- unique message id -->
      <messageId messageIdScheme="http://www.partyB.com/coding-scheme/message-id">234233423420</messageId><!-- identify the sender of this message -->
      <sentBy partyIdScheme="http://www.partyB.com/coding-scheme/party-id">23902</sentBy>
      <creationTimestamp>2007-05-02T08:57:00-00:00</creationTimestamp>
   </header>
   <trade><!-- trade header information -->
      <tradeHeader>
         <partyTradeIdentifier><!-- identify this trade from the perspective of gh4903 -->
            <partyReference href="gh4903"/>
            <tradeId tradeIdScheme="http://www.partyB.com/coding-scheme/trade-id">6234</tradeId>
         </partyTradeIdentifier><!-- trade date -->
         <tradeDate>2006-11-07</tradeDate>
      </tradeHeader><!-- correlation swap uses return swap framework -->
      <correlationSwap><!-- extraordinary events -->
         <extraordinaryEvents><!-- calculation agent determines handling of these merger events -->
            <mergerEvents>
               <shareForShare>CalculationAgent</shareForShare>
               <shareForOther>CalculationAgent</shareForOther>
               <shareForCombined>CalculationAgent</shareForCombined>
            </mergerEvents><!-- tender offer applicable -->
            <tenderOffer>true</tenderOffer><!-- calculation agent determines handling of these merger events -->
            <tenderOfferEvents>
               <shareForShare>ModifiedCalculationAgent</shareForShare>
               <shareForOther>ModifiedCalculationAgent</shareForOther>
               <shareForCombined>ModifiedCalculationAgent</shareForCombined>
            </tenderOfferEvents><!-- failure to deliver or additional disruptions events mandatory -->
            <failureToDeliver>true</failureToDeliver>
            <representations><!-- non reliance applicable -->
               <nonReliance>true</nonReliance><!-- agreements and acknowledgements regarding hedging activities applicable -->
               <agreementsRegardingHedging>true</agreementsRegardingHedging><!-- additional acknowledgements applicable -->
               <additionalAcknowledgements>true</additionalAcknowledgements>
            </representations><!-- TODO do I need to add Share Substitution Procedure -->
            <nationalisationOrInsolvency>CancellationAndPayment</nationalisationOrInsolvency>
         </extraordinaryEvents><!-- floating correlation leg -->
         <correlationLeg><!-- correlation seller responsible for making the payments defined by this structure -->
            <payerPartyReference href="ab9560"/><!-- correlation buyer that receives the payments defined by this structure-->
            <receiverPartyReference href="gh4903"/><!-- termination date is the cash settlement payment date -->
            <terminationDate>
               <relativeDate>
                  <periodMultiplier>0</periodMultiplier>
                  <period>D</period>
                  <businessDayConvention>NONE</businessDayConvention>
                  <dateRelativeTo href="sd2344"/>
               </relativeDate>
            </terminationDate><!-- define the underlying basket, showing only the first three shares-->
            <underlyer>
               <basket>
                  <basketConstituent>
                     <equity>
                        <instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">IBM.N</instrumentId>
                        <description>ABN AMRO HOLDING NV</description><!-- exchange -->
                        <exchangeId>AEX</exchangeId><!-- related exchange -->
                        <relatedExchangeId>LIFFE</relatedExchangeId>
                     </equity>
                  </basketConstituent>
                  <basketConstituent>
                     <equity>
                        <instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">MSFT.O</instrumentId>
                        <description>AEGON NV</description>
                        <exchangeId>AEX</exchangeId>
                        <relatedExchangeId>LIFFE</relatedExchangeId>
                     </equity>
                  </basketConstituent>
                  <basketConstituent>
                     <equity>
                        <instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">B.N</instrumentId>
                        <description>AIR LIQUIDE</description>
                        <exchangeId>PAR</exchangeId>
                        <relatedExchangeId>LIFFE</relatedExchangeId>
                     </equity>
                  </basketConstituent>
               </basket>
            </underlyer>
            <settlementType>Cash</settlementType><!-- cash settlement payment date -->
            <settlementDate id="sd2344"><!-- 2 TARGET business days after valuation -->
               <relativeDate>
                  <periodMultiplier>3</periodMultiplier>
                  <period>D</period>
                  <dayType>Business</dayType>
                  <businessDayConvention>NONE</businessDayConvention>
                  <businessCenters><!-- business days -->
                     <businessCenter>EUTA</businessCenter>
                  </businessCenters>
                  <dateRelativeTo href="vd8290"/>
               </relativeDate>
            </settlementDate>
            <valuation><!-- valuation date -->
               <valuationDate id="vd8290">
                  <adjustableDate>
                     <unadjustedDate>2007-06-15</unadjustedDate>
                     <dateAdjustments>
                        <businessDayConvention>NotApplicable</businessDayConvention>
                     </dateAdjustments>
                  </adjustableDate>
               </valuationDate>
            </valuation>
            <amount><!-- implicit return type price --><!-- implict participation 100% --><!-- observation start date -->
               <observationStartDate>
                  <adjustableDate>
                     <unadjustedDate>2006-11-07</unadjustedDate>
                     <dateAdjustments>
                        <businessDayConvention>NotApplicable</businessDayConvention>
                     </dateAdjustments>
                  </adjustableDate>
               </observationStartDate>
               <correlation>
                  <closingLevel>true</closingLevel><!-- expected number of business days -->
                  <expectedN>30</expectedN><!-- equity notional amount -->
                  <notionalAmount>
                     <currency>EUR</currency>
                     <amount>15000000</amount>
                  </notionalAmount>
                  <correlationStrikePrice>0.60123</correlationStrikePrice>
                  <boundedCorrelation><!-- floor level -->
                     <minimumBoundaryPercent>0.35123</minimumBoundaryPercent><!-- cap level -->
                     <maximumBoundaryPercent>0.85123</maximumBoundaryPercent>
                  </boundedCorrelation>
                  <numberOfDataSeries>1</numberOfDataSeries>
               </correlation>
            </amount>
         </correlationLeg>
      </correlationSwap><!-- calculation agent -->
      <calculationAgent>
         <calculationAgentPartyReference href="gh4903"/>
      </calculationAgent>
      <documentation>
         <masterAgreement>
            <masterAgreementType>ISDA</masterAgreementType>
            <masterAgreementVersion>2002</masterAgreementVersion>
         </masterAgreement>
         <contractualDefinitions>ISDA2000</contractualDefinitions>
         <contractualDefinitions>ISDA2002Equity</contractualDefinitions>
      </documentation>
      <governingLaw>USNY</governingLaw>
   </trade>
   <party id="ab9560"><!-- party id defaults to BIC -->
      <partyId>CLNTGB20</partyId>
      <partyName>Client</partyName>
   </party>
   <party id="gh4903"><!-- party id defaults to BIC -->
      <partyId>PARTYBUS33</partyId>
      <partyName>partyB</partyName><!-- account details -->
      <account id="uw2992">
         <accountId accountIdScheme="http://www.partyB.com/coding-scheme/account-id">4345334</accountId>
      </account>
   </party>
</FpML>