Asian corporates hungry for new FX products
Chong pointed out that FX structured products started developing rapidly beyond simple vanilla offerings and hedging tools for corporates in 2003. The number of multi-asset trades, which are payouts linked to two or more currency pairs, were en vogue in 2004 and 2005 and have in the last two years evolved into other multi-asset trades such as dual ranges, in which you get a high coupon if spot rates stay inside both ranges of two currency pairs.
"A difference I see between Asia and the rest of
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