New Option Symbology
OPEN PLATFORM
A major overhaul of option symbology is in development at the Options Clearing Corp. (OCC) and it looks like July 2009 could be a partial replay of "Y2K" if market participants don't get their acts together. Just as organizations clamored to update, patch and fix their myopically built systems that couldn't cope with four digits in the year field in preparation for the new millennium, we can expect the same frenzy to take place once the new option symbology, proposed by the OCC, takes effect
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