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Why are there rigid instruments and flexible ones?

flexible instruments rigid
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Why are there rigid instruments and flexible ones?

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The Vanilla fixed float will cover a significant number of trades while still providing a simpler structure. People will be able to understand the simpler structure more easily (e.g. only 10 things to look at instead of 100). Systems will be able to be simpler if some clients only want to deal with the vanilla case.

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