The Options Price Reporting Authority has released a timetable for implementing changes to Opra data messages as part of the options symbology initiative, an industry project being co-ordinated by staff members of the Options Clearing Corp. that will involve eliminating Opra's five-letter codes and fractional strike prices.
Under the timetable, subscribers to Opra's feed will begin testing new messages with expanded symbols early next year as part of a phased implementation that will stretch to the middle of 2009. Officials working on the plan say that major changes to Opra codes are necessary because the existing five-letter codes do not provide an accurate representation of expiration dates for options contracts.The...
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