SMCC Recommends SymbologyDNA(TM) to the Financial Information Forum (FIF)
2008年6月12日 - 9:00PM
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Symbology Management Clearing Corporation (SMCC) is pleased to
announce the development and delivery of its SymbologyDNA�
methodology (SDNA) for the Internal Options IDentifier (IOID) used
as the standardized link to the Options Symbology Initiative (OSI).
On June 11, 2008 SMCC made its recommendation to the Financial
Information Forum (FIF) that the industry adopt the SDNA
methodology to ensure standardization, consistency and accuracy in
symbology management throughout global financial systems.
Currently, the entire financial industry is being asked to modify
their systems for OSI compliancy to handle a 21 character option
symbol from the Options Clearing Corporation (OCC), and a 17
character option symbol from the Option Price Reporting Authority
(OPRA). The proposed OSI methodology will undoubtedly carry a
multi-billion dollar price tag for the industry to bear, similar to
that of Y2K, and will impact systems end-to-end posing enormous
risk to all financial environments. SymbologyDNA� will allow
financial firms to translate and convert 5 or 9 character symbology
representations into the new 17 or 21 character symbology formats
and vice versa. This will save firms millions of dollars by
reducing the need for massive conversion efforts to their existing
options processing environments. SymbologyDNA� is a suite of
algorithmic components used for the compression and decompression
of OSI compliant options data coming from OPRA and the OCC. The
algorithms implemented in these components, named SDNA17 and
SDNA21, compress the�OPRA and OCC formatted 17 and 21 character
fields into a�9 character field that can then be extracted back
into�their original formats. SymbologyDNA� components SDNA17 and
SDNA21 are being made available to the financial industry at no
cost, and can be�used to reduce change, cost and risk while
ensuring�OSI compliancy�to any options environment. In addition,
SMCC also provides the trading industry with a seamless interface
for access into its centralized repository servers, thus increasing
efficiency and accuracy within the exchanges and firms. SMCC has
solved the problem of decentralization with its proprietary
products, Symbol Manager� and Symbol Master�, which currently
provide information and services that are held to the highest
standards to options exchanges and market participants. About SMCC
(Symbol Management Clearing Corporation) SMCC is a joint venture
company of Spooz Technologies, Inc., a wholly owned subsidiary of
Spooz, Inc. (Pink Sheets: SPZI) and SFB Market Systems, Inc., a
privately owned corporation. The goal of the SMCC is to incorporate
the advanced technologies provided by Spooz into the expansion of
SFB�s products and services known as Symbol Manager� and Symbol
Master� to achieve centralized global symbology management. SMCC
will provide brokers, exchanges, and clearing firms with a flexible
and robust platform from which to reserve and request new symbols
for listed trading products. This will also allow for the creation
of synthetic products to which new symbols may be assigned, such as
spreads, baskets, and combinations. The new electronic system will
replace the antiquated manual processes and is expected to save the
exchanges and the industry millions of dollars. View the solution
diagram of SymbologyDNA� at www.symbolmaster.com and www.spooz.com.
Spooz (PK) (USOTC:SPZI)
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Spooz (PK) (USOTC:SPZI)
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