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				  Options Symbology Initiative
Options Symbology Initiative

Overview

The Options Symbology Initiative (OSI) will overhaul the symbology currently used in representing traded options. Set to take effect in 2010, the initiative has far reaching consequences for both the infrastructures and the applications on which firms rely. It will impact front, middle, and back-office operations, driving the need for technology investments and closely coordinated testing and implementation processes.

Challenges

The OSI initiative mandates a change in applications to accommodate a 21-character "symbology key" to denote options. Financial services firms will be pressed to develop symbol consolidation strategies and comprehensive testing strategies to mitigate the implementation risks. Since most firms rely on third-party applications at various points in the trading process, the challenge is heightened; vendor test plans will have to be incorporated into the program.

Our Approach

EMC Consulting can work with you to develop a comprehensive impact analysis and roadmap for achieving OSI objectives with minimal disruption to your business. We provide a proven program-management approach to developing, managing and implementing the complex, multi-disciplinary strategies that will be required to deliver a successful OSI migration program. With capabilities that run the gamut from impact analysis to data quality testing, we can assist you at any phase of your OSI initiative.

Measurable Outcomes

EMC Consulting can help you:

  • Mitigate risk associated with the OSI Initiative.
  • Develop plans and schedules.
  • Determine costs.
  • Manage multiple parties to gate project issues in a timely manner.
  • Align internal and external organizations to maximize efficacy.
  • Validate operational viability.

For more information, please call 1-212-577-6700.

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