About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

OCC is Selected as New Options Symbology System Operator

Subscribe to our newsletter

Following the furore surrounding the establishment of an alternative standard to the Options Price Reporting Authority (Opra) code last year, industry participants have finally selected a suitable candidate to operate the new symbology allocation system. There were ongoing discussions throughout 2008 about the lack of agreement on the basics surrounding the introduction of a new code but it seems that some progress has been made, including the selection of the Options Clearing Corporation (OCC) as the operator of the system.

The OCC was selected by market participants as the most suitable candidate to maintain a centralised database of securities symbols, although other players in the market were considered, including the Depository Trust & Clearing Corporation (DTCC), the Financial Industry Regulatory Authority (Finra), the Issuer Advisory Group (IAG) and SFB Market Systems (SFBMS). The OCC is the clearing house that since 2005 has led the Options Symbology Initiative (OSI) and was likely chosen because of this long association with the market.

Last year, the Financial Information Forum (FIF) released a report that indicated the cost of the introduction of the new system could total an estimated US$250 million.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Unlocking value: Harnessing modern data platforms for data integration, advanced investment analytics, visualisation and reporting

4 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Modern data platforms are bringing efficiencies, scalability and powerful new capabilities to institutions and their data pipelines. They are enabling the use of new automation and analytical technologies that are also helping firms to derive more value from their data and...

BLOG

GLEIF Begins a New Decade in Growth Mode

The Global Legal Identifier Foundation (GLEIF) enters its second decade this month with its novel system of identifiers for everything from companies and their financial instruments to real assets fast becoming a global standard. While the next five years are expected to see yet more entities join the GLEIF’s open data project, the organisation’s immediate...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...