Just when I thought I was getting a grip on the acronyms like CRR, ECB, Repo and LIBOR I came across this priceless gem in today’s Economic Times (page 16):

According to the SEBI circular, the exposure margin for gross open positions in single stock futures and gross open short positions in stock options will now be the higher of 10% or 1.5 times the standard deviation – an indicator of volatility in a stock – in the notional value of the positions.

Notice that the explanation is provided only for the term - standard deviation – which is commonly known anyways. :-)