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Is there a definition anywhere of what constitutes 'plain vanilla' as opposed to 'complex exotic' in terms of derivatives (particularly FX) products?

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Published on LexisPSL on 27/10/2014

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  • Is there a definition anywhere of what constitutes 'plain vanilla' as opposed to 'complex exotic' in terms of derivatives (particularly FX) products?

Is there a definition anywhere of what constitutes 'plain vanilla' as opposed to 'complex exotic' in terms of derivatives (particularly FX) products?

Schulyer Henderson defines vanilla derivative in Henderson on Derivatives: Broader context: dealing market, paragraph [1.7]:

'A 'plain vanilla' derivative is one that has the most simple, basic and common derivative form

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