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{{anat|isda}}Generally, those {{tag|derivative}} contracts entered into under an {{isdama}}. Two rookie mistakes to avoid: | {{anat|isda}}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. | *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 ''The Big Short''<ref>{{google3|The|Big|Short}}.</ref> have rumbled it. | ||
What - you want actual ''information'' about swaps? Go, then, to the {{tag|ISDA Anatomy}} | What - you want actual ''information'' about swaps? Go, then, to the {{tag|ISDA Anatomy}} | ||
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{{c3|ISIA|Egg|Bluffer’s guide}} | {{c3|ISIA|Egg|Bluffer’s guide}} | ||
{{ref}} | |||