Options Symbology Change - Reuters

Expiration Year– 2 digits
Strike Price – 5 characters – We will be using 2 decimals in our strike price unless the
strike price is greater than 999.999, then we would use 1 decimal
Separator and Exchange ID – 2 characters
Our RIC structure will be 17 characters as shown below. Up to 15 characters will describe the
option. With the period (.) separator and a single-letter exchange ID the RIC will be 17
characters in total.
Root
Symbol
Expiration
Month
(C/P)
Expiration
Day
Expiration
Year
Strike
Price
Exchange
ID
Bytes 5 1 2 2 5 2
Example MSFT1 A 17 12 05500 .U
Example 1: MSFT1A170805500.U would be the NBBO RIC for the “adjusted” Microsoft
$55.00 call expiring January 17, 2008. (post consolidation)
Example 2: QQQQN150910000.W would be the CBOE-specific RIC for the PowerShares
Trust $100.00 put expiring February 15, 2009. (post consolidation - RDFD)
Chain RICs for such options would not change. They would remain 0#MSFT*.U and
0#QQQQ*.W respectively. The adjusted Options on Microsoft would be under 0#MSFT1*.U.
OPRA Options – OPRA Code:
FID 967 (BKGD_REF) is currently being used as an illogical FID to identify the “Street
Symbol” or the OPRA code. This FID will be populated with the new elongated OPRA code.
Thomson Reuters needs to normalize this code to assure consistency because the Options
exchanges are at liberty to use denominator codes of their choice within the new OPRA
format. To this extent, a “C” denominator code would be applied for all strike prices lesser
than 1000 & a “B” denominator code would be used for all strike prices greater than or equal
to 1000.
Example 1: VIBA2211C020000 would be the OPRA Code (Pre-Consolidation) for
the International Business Machine $20.00 call expiring January 22, 2011. Post
Consolidation the OPRA Code would change to IBMA2211C020000.
Example 2: SXGL1810B120000 would be the OPRA Code (Pre-Consolidation) for
the S&P 500 Index $1200.00 call expiring December 18, 2010. Post Consolidation
the OPRA Code would change to SPXL1810B120000.
3000 Xtra, Reuters Data Feed (RDF)
The current full quote option display includes the five-letter OPRA symbol. Thomson Reuters
3000 Xtra clients would have to upgrade to Display Template Version 11.3 to view the new
normalized OPRA Code in its entirety. The new RIC structure is confirmed & FID 967
(BKGD_REF) will contain the new normalized OPRA code.
OPRA OPTIONS SYMBOLOGY CHANGE - 4 -