25 February 2018
visit www.ebaday.com

Options Clearing Corporation completes symbology conversion

17 February 2010  |  1760 views  |  0 Source: Options Clearing Corporation

The Options Clearing Corporation (OCC) is pleased to announce the February 12 conversion for the Options Symbology Initiative (OSI) has successfully been accomplished with firms, clearing members, exchanges and the OCC all now using the new OSI key.

Five months of industry-wide testing paved the way for an exceedingly smooth transition on Feb. 12, and follow-up reports through Feb. 16 have not revealed any problems with the first major milestone moving toward the new symbology. Prior to the conversion, all OCC Clearing Members certified they had completed the scripted industry testing that took place from September 2009 through January 2010. Many market participants had moved to the new symbology before the conversion date. The next step in the process is consolidation. Completion of the OSI transition is scheduled for mid-May.

OSI was launched in 2005 with the goal of overhauling the existing method of identifying exchange-listed options contracts. A committee of industry professionals from the broker-dealer, exchange, vendor and clearing communities have been working together on this multi-year effort to update the current nomenclature from a five character alpha code to an OSI key which clearly identifies the underlying product.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.swift.com/your-needs/instant-paymentsvisit www.ebaday.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12736 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10885 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9422 views comments | 15 tweets | 27 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8791 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8700 views comments | 11 tweets | 14 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job