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Options Symbology Initiative - Feb 1, 2010

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  • Options Symbology Initiative - Feb 1, 2010

    Attention all OPRA subscribers.

    In early 2010, the symbol format for all Equity and Index options from OPRA will change. Here's an excerpt from the OCC on this change:

    Today, many organizations that support trading in listed options are restricted in their ability to identify and process exchange listed option contracts. These organizations typically use a three to five alpha character representation. The first one to three characters identify the option root symbol and the remaining two alpha characters identify the expiration month, call/put indicator and strike price (IBMER = IBM May 2006 90 call).

    This method has been used for over 25 years and poses several limitations in today's marketplace. The limitation of three characters to represent the option root creates inconsistency with OTC securities and has resulted in the use of illogical identifiers in both the options and underlying securities markets. The month and call/put codes assume expiration occurs in the following sequential month and assumes a single expiration day.
    Read the rest here.

    Here are examples of what the new format will look like in our systems:

    O:MSFT 10B20.00 => Microsoft FEB 2010 Call for 20.00

    O:IBM 10O100.00 => IBM MAR 2010 Put for 100.00

    O:IBM 10O100.00=B => IBM MAR 2010 Put for 100.00 Boston Exch

    Minor modifications are expected for most of our products and will be made available in Dec 09. We are looking to do a hard cut-over to the new symbology on Feb 1, 2010.

    All OPRA customers will receive direct notifications about this change as new information is available and upgrades to support the new formats are ready.

    Much more to come on this subject in the coming weeks and months.

    If you have any questions or concerns, feel free to use this other thread to post them.

    Thank you.
    Scott Johnson
    eSignal Support
    Helpful support sites:
    eSignal KnowledgeBase, Account Maintenance

  • #2
    Reminder:

    OSI cut-over is Feb 1st 2010. Notices have now gone out to all users giving instructions on what you'll need to do, if anything, prior to Feb 1st.

    If you have any questions regarding the cut-over, please post them in this thread.

    Thank you.
    Scott Johnson
    eSignal Support
    Helpful support sites:
    eSignal KnowledgeBase, Account Maintenance

    Comment


    • #3
      We've sent another round of reminder notifications to all existing OPRA subscribers regarding the upcoming change in Options Symbology.

      Please read the following KB article for additional details:

      Options Symbology Initiative (OSI)

      As mentioned in the article/notice, upgrading to the latest versions of eSignal, QCharts, and QuoTrek is required to continue following Stock and Index Options.

      Thank you,
      Ray P.
      eSignal Support

      Comment


      • #4
        Reminder:

        Hard cut-over to new symbology occurs this weekend, effective for trading on Monday Feb 1, 2010.

        eSignal users need to be ver 10.6.
        QuoTrek Users need to on ver 3.0
        QCharts customers need ver 6.2

        Please upgrade today if you haven't already.

        Thank you.
        Scott Johnson
        eSignal Support
        Helpful support sites:
        eSignal KnowledgeBase, Account Maintenance

        Comment


        • #5
          Final Reminder:

          Cut over begins this evening. Please make sure you're on the most current version of your platform.

          Thank you.
          Scott Johnson
          eSignal Support
          Helpful support sites:
          eSignal KnowledgeBase, Account Maintenance

          Comment


          • #6
            Back-end changes have now been completed. We are in the process of testing all our applications and user interfaces. If you have any questions or comments about the new OSI format, please review this KB article and also feel free to post them in this thread.

            Thank you.
            Scott Johnson
            eSignal Support
            Helpful support sites:
            eSignal KnowledgeBase, Account Maintenance

            Comment


            • #7
              We have some sporadic reports of chains being slow to load or not loading at all this morning. We are in the process of balancing the usage load across our farms and investigating the other possible causes.

              Thank you.
              Scott Johnson
              eSignal Support
              Helpful support sites:
              eSignal KnowledgeBase, Account Maintenance

              Comment


              • #8
                We seemed to have resolves the slow chain loading issue and today was much lighter in terms of calls into Technical Support about the OSI conversion.

                We have two outstanding issues that will be addressed by another build of the DM in the next week or so.

                1. Index option chains don't work in QCharts. Users must individually input each option symbol.

                2. Our DDE links (incl QLink) don't work with the new OSI format.

                Both of these issues require a fix in the Data Manager which will be forthcoming.

                Thank you.
                Scott Johnson
                eSignal Support
                Helpful support sites:
                eSignal KnowledgeBase, Account Maintenance

                Comment


                • #9
                  Issue #2 (DDE links not working for new OSI format) has now been corrected in a new maintenance release of 10.6 (10.6.1879). Now available on our download page.

                  Thanks.
                  Scott Johnson
                  eSignal Support
                  Helpful support sites:
                  eSignal KnowledgeBase, Account Maintenance

                  Comment


                  • #10
                    And issue #1 (option chains not loading in QC) was corrected with a maintenance release of QCharts earlier this month.

                    Thanks.
                    Scott Johnson
                    eSignal Support
                    Helpful support sites:
                    eSignal KnowledgeBase, Account Maintenance

                    Comment

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