Watching Industry can feel oddly stressful, even when nothing dramatic is happening. People talk very quickly, they rarely explain themselves, and entire conversations seem to hinge on words you’ve never heard before. That’s not accidental. The language is part of how the show works.
Mickey Down and Konrad Kay, who created the TV show Industry, both worked in finance. In an interview with Esquire, they said that the jargon is meant to feel natural to the characters and slightly alien to everyone else. It reflects how these workplaces operate: If you understand the language, you’re taken seriously. If you don’t, you’re not.
via BBC
So, instead of pausing every five minutes or pretending you get it, here’s a straightforward guide to the finance words that actually matter in BBC’s Industry.
Bid away
This is about being hired by a rival firm. When someone asks, “Are we a bid away?”, they mean: Would another bank or fund pay to take us on as a team? It’s a way of measuring how valuable you are in the market, and whether your employer should be worried.
MD and ED
These are senior job titles. ED stands for Executive Director and MD stands for Managing Director. There can be several of each on a team. MDs are technically more senior, but EDs often run desks if there isn’t an MD in place. For ambitious people, it’s a chance to show they’re ready for the top role.
FICC
This stands for Fixed Income, Currencies and Commodities. It’s a major division within an investment bank. Bonds, foreign exchange and commodities all sit under FICC. In Industry, teams like FX and cross-product sales are part of this group.
Shorting / short selling
This just means betting that something will fall in value. Instead of making money when a share price rises, you make money when it drops. You don’t need the mechanics to follow the show, just remember that shorting works when things go badly.
CRMS
CRMS means Client Relationship Management Services. It’s a real role in banking. Someone is taken off the trading floor and asked to focus on overall client strategy instead. Officially, it’s a senior position. In practice, it’s often a way of easing people out of frontline work without firing them.
DVO1
This is deliberately confusing. DVO1 is a real technical term related to options pricing, but it’s used in Industry mainly to disorient the audience. It’s the first piece of jargon Harper hears in season one, and you’re meant to feel as lost as she does. Not understanding it is part of the point.
Meme stocks
These came from retail investors on Reddit. People using trading apps bought shares in struggling, well-known companies like GameStop and BlackBerry. Hedge funds had heavily bet against these firms, and the sudden buying pushed prices up sharply. The term “meme stock” comes from how internet culture drove the trades.
Layup trade
The phrase comes from basketball. In finance, it means a trade that seems straightforward and likely to make money without much risk. Everyone wants them, and they often cause tension on the desk.
Flow
Flow refers to recent market activity. It’s about who’s been buying, who’s been selling, and how active clients are. It’s not precise, and it’s not meant to be. Flow gives a sense of direction rather than a clear explanation.
Colour
Colour is general information. It can mean rumours, sentiment, or background knowledge about what’s happening in the market. When someone says they’ve got colour, they’re saying they have insight, even if it’s not something they can prove.
Risk asset
A risk asset is anything that isn’t stable or predictable. Shares, currencies and commodities all fall into this category. They offer higher potential returns, but they also carry a greater chance of loss.
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