The exotic exposure at 1.3250 includes the peak triggers of Double No Touch options which are due to expire next April and May. The slated April expiry DNT carries an estimated E7mn payout.
1.3250+ exotic barriers reside at 1.3300, 1.3350, 1.3400, 1.3450 and 1.3500+. The 1.3500 exotic exposure includes a knockout on a 1.2900 EUR put option which reportedly traded at 0.685% in just over E1bn yesterday for a late November 2007 expiry.
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