Is there one correct abbreviation for millions in financial terms?

[Exapno_Mapcase]

@Omar_Little

So, is there one correct usage? Or is it more of a common usage thing?

All usage is either common or geared to a particular style guide. No usage can be “correct” or more correct than any other usage.

@Quartz

Those are the wrong terms. It’s ‘short scale billion’ and ‘long scale billion’. Wiki has an article here. If you scroll down, you’ll see that the graphic shows the UK as using the short scale.

There may be a name for overall system, but those are not the names for the individual terms. I can’t find any evidence that anyone refers to the “short scale billion” or “long scale billion” in actual usage (other, obviously, than in discussions of the scales).