Yard
a.k.a. A yard
Trading-desk slang for one billion units of a currency.
In plain English
Trading-desk slang for one billion units of a currency.
A yard means a billion, from the word milliard. "I'll sell you a yard of yen" means one billion yen (worth several million dollars, not a billion).
Traders use it to avoid a costly mix-up: on a noisy line, "million" and "billion" can sound alike. "Yard" leaves no room for doubt. Smaller amounts get their own shorthand, like "a buck" for a million.
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