When banks develop fancy new structured products, they usually describe them as value-added, yield-enhancing solutions that do everything a client could possibly want except, perhaps, washing the dishes. No discerning investor or corporate should be without them.
So consumers of structured foreign exchange options may be interested to learn what one banker said about them in a meeting with Euromoney last month. It was a touchingly honest moment.
“Obviously, we want to steer clients away from the more vanilla end of the market towards these structured products,” he said.
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