The following milestones and associated dates have been developed by the Symbology Committee:

May 1, 2006 – Data definition and Implementation Strategy document distribution to industry participants. (Completed)

May 1, 2006 to August 29, 2006 – Industry comment period. (Completed)

December 5, 2006 – A recommendation is submitted to the OCC Board of Directors for approval. (Completed)

January 2007 – OCC and Exchange record layout changes to support new and old symbology methods are documented and distributed to industry participants. These documents will constitute the tools used by market participants to conduct impact analysis. Each entity will be responsible in communicating with its own constituents. All market participants should budget capital toward this initiative during the 2007, 2008, and 2009 calendar years. (Completed)

August 21, 2007 – Detailed Implementation Strategy communicated. (Completed)

October 1, 2007 – OCC and Exchanges publish individual implementation plans for acceptance and validation of new data elements related to the June 30, 2008 conversion date. (Completed)

June 2008 – September 2009 - OCC and exchanges supply and accept both existing and OSI compliant data values in new record layouts. Market participants conduct internal testing utilizing production data received from the exchanges and OCC with internal and external clients. The symbol consolidation strategy will be published by December 1, 2008.

June 2008 – Detailed test scripts for the scripted industry testing effort to begin September 2009 will be communicated to the OSI committee for comment (60 days).

August 2008 – Final industry test scripts published.

September 2009 - January 2010 - Scripted industry testing of the new environment under OSI pre and post symbol consolidation.

December 1, 2008 – Detailed consolidation strategy communicated to OSI Committee.

February 12, 2010 – Mandatory cut-over for use of explicit data elements by all market participants. OPRA codes become obsolete and will be suppressed from all data interfaces on this date. (Symbols will not be consolidated at this time but all explicit data elements must be used: See discussion below).

March 2010 – May 2010 – Execution of the symbol consolidation strategy that mitigates operational risk and ensures an efficient consolidation of all open interest. See the consolidation strategy section of this document.