The yard is a financial term that means one billion. Derived from “milliard”, which is used in certain European languages and is equal to one billion number used in American English.
A yard is equivalent to 10y – 10 to the ninth power – or the number one that is followed by nine zeros, which gets written as 1,000,000,000. If somebody wants to have one billion, he can refer to it as a yard.
Similar to any other industry, the financial world comes with its own terms, including the yard. As mentioned above, this one is referred to as one billion and may provide a perfect method of naming a figure.
Often, it is used to avert any confusion that may arise with words million or trillion while trading something. Generally, this term is used in currency trading. However, across the world, there are different terminologies that are used to discover large numbers. One instance, one billion, apart from one yard, can also be known as one thousand million or one milliard, based on the country.
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To make trading a seamless process, traders had to develop their own financial slang or terminology. As mentioned above, this term – yard – is used to signify one billion and to avoid any confusion that may come up with other words with a similar sound.
At that time, traders used to communicate through an open outcry system, which was generally shouting to each other or using hand signs to transfer information regarding buying or sell orders. With a significant development in technology, the world of trading started making a conversion to electronic trading from the open outcry system.
In fact, a variety of largest exchanges of the world completely eradicated outcry system and adopted a completely integrated electronic trading system, such as the Toronto Stock Exchange (TSX), Bombay Stock Exchange (BSE), and the London Stock Exchange (LSE).
As per some reports, financial terms, such as yard and more, may consistently survive. However, over-the-phone and electronic trading are slowly killing plenty of general financial slangs. Since the new lot of traders is more adept with modern technology, they might not be completely familiar with financial lingo that was quite a popular one back then. This means that the possibility of terminology surviving in this industry is bleak.