Swap: Difference between revisions

Revision as of 17:54, 18 September 2016

Generally, those derivative contracts entered into under an ISDA Master Agreement. Two rookie mistakes to avoid:

Firstly, it’s pronounced “sw-ŏp” (to rhyme with chop), but it’s spelled “swap”. Any fan of 1970s children's television will know this. It is not, however, true that Noel Edmonds was a pioneering derivative salesman, but that would make a great play. On no account should you say “sw-æp” (to rhyme with “crap”), unless you want derivatives insiders to dine out on your misfortune for many years. I still tell people about an unfortunate partner of Stephenson Harwood who made this mistake in 1997.
Secondly, when articulating the word ISDA you say "izder", not “eye-ess-dee-aye”. This was a closely guarded industry in-joke, designed to reveal ingénues, but sadly the spoil-sport makers of Let me Google that for you have rumbled it.

What - you want actual information about swaps? Go, then, to the ISDA Anatomy

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 Generally, those {{tag|derivative}} contracts entered into under an {{isdama}}. Two rookie mistakes to avoid:
-*Firstly, it’s pronounced “'''sw-ŏp'''” (to rhyme with chop), but it's spelled “swap”. Any fan of 1970s children's television will know this. It is not, however, true that {{tag|Noel Edmonds}} was a pioneering derivative salesman, but that would make a great play. On no account should you say “'''sw-æp'''” (to rhyme with “[[crap]]”), unless you want derivatives insiders to dine out on your misfortune for many years. I still tell people about an unfortunate partner of Stephenson Harwood who made this mistake in 1997.
+*Firstly, it’s pronounced “'''sw-ŏp'''” (to rhyme with chop), but it’s spelled “swap”. Any fan of 1970s children's television will know this. It is not, however, true that {{tag|Noel Edmonds}} was a pioneering derivative salesman, but that would make a great play. On no account should you say “'''sw-æp'''” (to rhyme with “[[crap]]”), unless you want derivatives insiders to dine out on your misfortune for many years. I still tell people about an unfortunate partner of Stephenson Harwood who made this mistake in 1997.
 *Secondly, when articulating the word {{ISDA}} you say "'''[[izder]]'''", not “'''[[eye-ess-dee-aye]]'''”. This was a closely guarded industry in-joke, designed to reveal ingénues, but sadly the spoil-sport makers of {{google3|The|Big|Short}} have rumbled it.