Axe

The Jolly Contrarian’s Glossary The snippy guide to financial services lingo.™ →Go uptown A ’59 Strat, yesterday. Index — Click the ᐅ to expand: Glossary Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Axe
/æks/ (n.)
1. Rock ’n’ roll: An electric guitar. Ideally, a transition ’59 Strat with a slab board and single ply pick guard.

2. Financial trading: The position a trader wants to be in, but isn’t. Where she aspires to go. A longing. A need. A desire. If she is long huge slabs of structured mezzanine credit and it is March 2007, she is dramatically axed to sell it. Fast.