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Generally, those {{tag|derivative}} contracts entered into under an {{isdama}}. Two rookie mistakes to avoid: | Generally, those {{tag|derivative}} contracts entered into under an {{isdama}}. Two rookie mistakes to avoid: | ||
*Firstly, it's pronounced | *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 {{ISDA}} you say "'''isder'''", not | *Secondly, when articulating {{ISDA}} you say "'''isder'''", not “[[eye-ess-dee-aye]]”. This was a closely guarded industry in-joke, designed to reveal ingénues, but sadly the spoil-sport makers of The Big Short have rumbled it. | ||
What - you want actual information about swaps? Go to the {{tag|ISDA Anatomy}} | What - you want actual information about swaps? Go to the {{tag|ISDA Anatomy}} | ||
{{anat|ISDA}} | {{anat|ISDA}} | ||