Plain vanilla is a term used to describe a financial instrument with no unusual features. The simplest forward, options and swap contracts are all examples of plain vanilla financial instruments. Thanks to their simplicity, they are generally cheaper than non-plain vanilla products. Plain vanilla forward contracts, such as Outright Forwards and Open Forwards are the most widely used instrument in Currency Management Automation solutions. This is because, unlike complex financial instruments designed for special situations, plain vanilla currency forwards answer most of the day-to-day FX risk management needs of companies.