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How Industry Creators Created Exciting Shows From Banking Terms

THe HBO series Industry is London's version of Wall Street, A group of young high-end financial workers fighting in The City. The first season follows tenacious American graduate Harper (Maihara Herold), ambitious publishing heiress Yasmin (Marisa Abella), and Oxford graduate Robert (Harry Rorty) at Pierpoint, London's top financial firm. The first revolved around his one-year tenure. & Co. Season 2 jumps a few years ahead and shows us how these older, but perhaps unwise, characters settle into their respective jobs.

It's easy to get drawn into the workplace drama of his 20-something character in the industry. It's as if euphoria met . Wolf of Wall Street It is often very difficult to understand what they are talking about on the trading floor. "I've seen some tweets of people saying they like the show, but they don't know what's going on," show co-creator Mickey Down told Time. "In fact, the majority of the audience forgets that they have no idea what the term or British slang means. It's a miracle that people are able to follow it."

Industry An early episode was inspired by Down and co-creator Konrad Kay's experience in the financial industry, where banking terms like "yard" It was packed, traders say, for the $1 billion, or “payroll,” U.S. Employment Report financial code, thepair that tends to determine whether a market is bullish or bearish, is thepair. It premiered on August 1, when it decided to go "a little friendlier" for its second season. The often-complicated work jargon hasn't gone away in Season 2, but Down and Kay say they've found a better way to incorporate it into the story.

"I think people who were put off by season 1 a little bit can come into this season knowing it's a little bit more accessible," Kay said. said, "Very heavy on jargon, most Star Trek will do in the first season in hopes of keeping the series as true to real life as possible." It's almost like a foreign language.It's very alienating.

What creators have since realized is that the vast majority of viewers are unable to understand overly complex financial dialogue. They are interested in the world of theindustryand skillfully portray the pressures that come with a stressful job, especially when you are just starting out.

Mihara Herold and Ken Leon Industry

Simon Ridgeway—HBO

Meaning of Banking Terms Industrycharacters and the show foreshadows

Early in the season 1 premiere, Harper has a confusing conversation: One Year, 500K DVO1. A one-year euro swap,” says Down, which is somewhat meaningless. "It's the show's first fancy jargon," he says. "And you're going to hear it and say, 'What did she just say?' "But for an audience to hear it and hold onto it is almost absurd."

As such, Down admitsto be unfamiliar with financial talk.I was very impressed with how Herold delivered that particularly difficult line. “The people who work on his trading floor are confident in themselves and very confident in their language,” he says.

Cast conducts research and speaks extensively with creators in theindustryand those working in the financial industry to understand the rhythm of how stock traders actually speak. I got that confidence. Down recalls having dinner with a fairly well-known hedge fund manager. He couldn't believe that Ken Leung, who plays Eric Tao, Pierpoint's number one producer and Harper's de facto mentor, had never actually worked on the trading room floor. "He was like, 'No, he must have.' We said, 'No, he's an actor. It's his job to pretend he works in trading,'" Down said. say. ``He didn't get it.''

In the series, even people who have worked on Wall Street for years use British versions of common financial terms. increase. For example, "Bloomie" is a cute nickname the British use when talking about Bloomberg his terminal. The Bloomberg Terminal was created by billionaire businessman and former New York City Mayor Michael, his Bloomberg employee, and is his software computer used by financial professionals to monitor and analyze real-time markets. data. Unfortunately, the less formal moniker hasn't caught on across the pond yet. “On Twitter, he saw someone doing a check onindustryfacts, claiming that no one used the term bloomy to talk about Bloomberg. ,” says Down. "I think it's a bollok. It's a British thing."

Down and Kay are British slang used by Citi traders to talk about both work and extracurricular activities outside of it. into the show. An example is "Print". This can refer to a number of different financial related things. Governments issue new currencies, stock prices are time-stamped by exchanges. But more often than not, traders in theindustryuse the term to talk about their sex lives without telling their bosses. "At The City, someone asks, 'Have you ever printed it,'" she says Kay. "Just like in the printing industry, 'Have you ever slept with each other? Spend all your time on bloomies.' ' she says Mr. Down. "In other words, rather than saying bolder words, say, 'Will you guys print?'"

In over-the-counter (OTC) trading, the term "bid away" Refers to a bid from another dealer that exists at or above the price. Trading When he's not on the floor, theindustrycharacter likes to use "bid away" as a bit of after-hours slang. "'Missing the bid' is a very strange way of saying that someone is paying you to leave [your job] and go somewhere else," says Kay. The phrase comes up a lot in Kay and Down's WhatsApp chats with friends who still work in the industry. "There's something very funny about how serious people can be when they use these financial terms to talk about their personal lives," Kay says. The creators of Industry liked the term so much that they almost named Episode 7 of Season 2.

Financial acronyms not only bring realism to theindustry but are also a bit of fun

On show, as in real life, acronyms are Preferred by traders. Often we don't have time to go into detail. "RIF", also known as "reduced coercion", is repeated frequently throughoutIndustry's first season. This refers to the day when new graduate hires such as Harper, Yasmin, and Robert decide whether to stay on the job. However, this abbreviation was actually created by Down and Kay for the show. “The term ‘power reduction’ is hyper-corporate,” says Kay. "So I figured young people would call it RIF Day because it sounds like a dystopia."

106} Environmental Social Governance, according to Down,is a well-worn term in the financial industry to refer to ethical investing,he argues that funds and banks have ESG mandates. He said there may be.It is about making a difference in society, whether it is maintaining a diverse board or working towardsclean energy.

We're trying to make it very unbelievable." An example Down gave was an oil company that he claimed was ESG because it supplied energy to Ukraine. He believes it is "probably the loudest, most pervasive and annoying acronym currently in use in finance today."

Early in Season 2, Yasmin's supervisor Kenny (Conor McNeil) calls a young, wealthy client looking to get his hands on a "NARPY account." According to Down, it stands for Not a Real Person, "a very small subculture, especially in London, who are very wealthy, mostly unemployed, and live a very leisurely and luxurious lifestyle." It refers to the people of It's a derogatory term that he knew the writers had to include because of how ridiculous it is. “Conrad and I used to work in the financial industry, and we had no patience while we were there,” Down says. "Now I really like that world.

Client relationship management services, or CRMS, are where financial firms "put seniors who aren't as productive as they used to be," explains Kaye. "They can pay them less, but give them a role of ambassador that feels bigger, even though it's actually smaller." It's where Eric is dispatched, a plot point that has recently come to fruition at several high-profile financial firms. “I just found out that Goldman Sachs is actually doing that to some of their senior salespeople,” he says of the pandemic's turmoil.

This wasn't the only Season 2 story that came true. In the show, which was written months ago, Amazon is said to be entering the healthcare arenawith abid for primary care company One Medical. ,"We have a great consultant this season. He's in such a high position in the industry that we don't want to name him, so we call him a secret consultant," says Down. "He listens to the ground in a frighteningly accurate way about this sort of thing."

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