actant has been a supporter of this initiative since its inception, and has spared no effort, or expense, to ensure that its systems would be fully compliant on the effective dates. We are pleased that our efforts will assist our clients in effectuating a seamless transition to the new symbology.
New York (PRWEB) February 21, 2010
actant, a global provider of one of the world’s fastest algorithmic-based derivatives trading and quoting systems today announced its system testing indicates that its AQTOR trading solutions software suite will be fully compliant with the new Options Symbology Initiative (OSI) codes on their effective dates.
The Options Price Reporting Authority (OPRA) symbols used to represent options contracts for more than a quarter-century were clearly outdated in today’s marketplace. The Options Symbology Initiative (OSI) is an industry-wide effort led by the Options Clearing Corporation (OCC) to make the trading of exchange-listed options contracts more efficient and streamlined.
In making the announcement today, Joshua Seitz, Managing Director of actant North America said: “actant has been a supporter of this initiative since its inception, and has spared no effort, or expense, to ensure that its systems would be fully compliant on the effective dates. We are pleased that our efforts will assist our clients in effectuating a seamless transition to the new symbology.”
A committee of industry experts, to better support the rapidly growing and increasingly complex options markets, developed the OSI naming convention. The new OSI-compliant symbols will be more consistent and intuitive than the OPRA codes and ultimately will decrease the number of process errors and reduce investor confusion. The three- to five-character OPRA symbols will be replaced by a 21-character convention that will include an exact expiration date and a root that matches a security’s ticker symbol.
actant (http://www.actant.com) is a privately-held software development company founded in 1998 by software engineering and trading professionals with an unparalleled track-record in building successful real-time systems for automated derivatives trading on electronic exchanges.
actant’s AQTOR integrated suite is widely acknowledged to have one of the fastest quote management and trading solutions and is a leading provider of automated quote management and trading solutions for market makers and liquidity providers on electronic exchanges.
In Europe, actant offers market connectivity to Eurex/Xetra and the euronext.liffe markets. In the US, actant offers connectivity to the BOX, CBOE, CBSX, CME, ISE, Nyse-ARCA, OneChicago and PHLX markets.
actant is Headquarted in Zug, Switzerland with offices in London, Chicago, New York and Philadelphia.
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