Not so simple, since the system appears to have been invented by Bosch, and Slotted Drive System doesn't translate that way into German.
The Bosch site tells us "Die Abkürzung SDS stand ursprünglich für Steck, Dreh, Sitzt, wird aber heute international als Special Direct System bezeichnet.
In other words it was invented by Bosch in 1975 and originally stood for "Steck, Dreh, Sitzt" roughly translated as "stick, turn, seated" but is now internationally known as "special direct system".
Essentially someone came up with an English phrase that fitted the German acronym so SDS is correct and anything else is 'invented'.
One tool company told me it stood for Standard Detent System as all the tools have the same fitting.
Special Direct System seems applicable as in hammer or chisel mode only the bit moves, rather than the whole chuck.
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