Exotics make a comeback
LONDON - Interest in first- and second-generation exotic options structures showed signs of revival at the end of January, as clients looked to cut costs of vanilla options, say dealers.
"The year started slowly but we have had a very busy second half of January," said Simon Hards, global head of currency derivatives at Credit Suisse in London. "One of the main reasons for the interest in these products is the high level of volatility, which makes vanilla options expensive. This leads investors
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