Options Symbology Change - Reuters

Five Character Root Symbols
If options are traded off 5 character root symbols (eg: CMCSA), then on BDN the root symbol
for the options will be the first four characters i.e. CMCS.
If options are traded for the same company under two five character root symbols, eg:
CMCSA and CMCSK, then an appropriate alternate symbol will be used to differentiate the
options. For example, CMCS would be used for the most active set of options and CMCS0 for
the other set.
Corporate Actions
Corporate actions will result in a new symbol with a trailing digit, for root symbols of up to four
characters. If the original symbol already has 5 characters, then an appropriate alternate root
symbol will be chosen.
Reuters Plus & Thomson One
Specification to Reuters Plus Data Changes:
Exhibit A illustrates the new RPLUS Qsymbology. Exhibit B indicates the new Thomson
format. The RPLUS and T-1 symbols will be identical in nearly all cases, the exception being
for options with fractional strike prices. For fractional strike options:
- The character “Y” will be used in place of the T-1 dot (“.”), to indicate the decimal position in
the strike price component of the Qsymbol.
- The full number of decimal positions may not be included for some options with higher strike
values.
Qsymbology currently uses the dot “.” character to separate the symbol root and market code
extension. Use of this character elsewhere in the symbol would be problematic, and require
extensive software changes. The T-1 symbol has a max size of 17 characters. The Qsymbol
root has a maximum field size of 15 characters, which necessitates limiting the strike price
component to 5 characters. This may require omission of a decimal digit(s) for higher priced
options with fractional strike prices. Expansion of the Qsymbol root beyond 15 characters
would also require extensive RPLUS software modifications. However, due to the availability
of the actual strike price as a field value in the RPLUS database and broadcast, it is not
essential that the symbol contain all significant digits in its strike component. Decimal digits
are only required to provide a unique Qsymbol for fractional-strike options.
OPRA OPTIONS SYMBOLOGY CHANGE - 7 -