Important Reminders

The Exchanges have requested that all GTC orders that have been designated to undergo the scheduled consolidation process, be cancelled after the close on Friday, March 12, the scheduled day of consolidation. GTC orders will be cancelled on your behalf after the close through the weekend. Positions and orders queued for the Monday following consolidation will be converted to the post consolidated symbol over the weekend.

Important Dates

January 23	Conversion to new option symbol
February 12	OCC deadline for all firms to convert to the new symbol
March 12	First consolidation: Special options
April 9	Second consolidation: "A" options
April 23	Third consolidation: "B" to "G" options
May 7	Fourth consolidation: "H" to "O" options
May 14	Fifth consolidation: "P" to "Z" options

Symbols within each consolidation group are based on the first letter of the underlying security. During consolidation, option symbols will be changed to match the underlying symbol. The above dates are subject to change.

More Information

Click here to email your questions to Customer Service.

Click here for details about contract adjustments before and after consolidation.

Click here for general information regarding the Options Symbology Initiative from the Options Clearing Corporation.

Click here for Frequently Asked Questions about the Options Symbology Initiative from The Options Industry Council.

Option Symbology Initiative

Important Notices

March 12: GTC Orders Scheduled for Consolidation will be Cancelled After the Close

March 12 is the next consolidation date mandated by the (OCC) Options Clearing Corporation. Special symbols that will be consolidated on this date and a preliminary Consolidation Spreadsheet can be found at the OCC website. Note: This information is subject to change. An updated spreadsheet will be finalized by the OCC by noon on the Wednesday prior to each consolidation date. 

Important Reminder: The Exchanges have requested that all GTC orders that have been designated to undergo the scheduled consolidation process, be cancelled after the close on Friday, March 12, the scheduled day of consolidation. GTC orders will be cancelled on your behalf after the close through the weekend. Positions and orders queued for the Monday following consolidation will be converted to the post consolidated symbol over the weekend. 

Symbols will be consolidated from March to May 2010 and future consolidations will be taken in groups designated by the OCC. Symbols within each consolidation group are based on the first letter of the underlying security. During consolidation, option symbols will be changed to match the underlying symbol.

If you have any questions about this industry–wide initiative, please email Customer Service or call 1-800-927-3425.

January 23: Industry Change for Option Symbols

The Options Symbology Initiative (OSI) is an industry–wide plan by the Options Clearing Corporation (OCC), to change the existing method of displaying options.

This change will decrease the current limitations in today’s marketplace and make option symbols more descriptive. The OCC has mandated the options symbology conversion to occur no later than February 12, 2010; however Regal Discount Securities is scheduled to convert to a new option symbol format the weekend of January 23, in advance of the industry’s target date.

OPRA (Options Price Reporting Authority) code, the last two alpha characters that represent the type (call or put), expiration month, and strike price that you are familiar with today will be eliminated. An example of the new format is provided below for the Microsoft November 20, 2010 Call @ 25 strike.

Option Symbol Examples

To create consistency, the root option symbol will be changed to the base underlying symbol as part of the consolidation phase of the the OSI plan. Tentative dates for this phase are in the sidebar of this page.

Updated: 03/08/2010

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