FIF Readies Symbology Groups

The decision to create the two new groups stems from a meeting of FIF and Securities Industry and Financial Markets Association members on April 17 discussing the Options Clearing Corp.'s Options Symbology Initiative, which proposes 21-character option symbols for clearing and settlement. At the meeting, it emerged that firms use internal option identifiers that in most cases contain fewer than 21 characters, and that the proposed new 21-character code would not be used internally or for retail

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