NEW YORK, May 20, 2014 /PRNewswire/ -- CUSIP Global Services (CGS), a leading provider of unique security and entity identifiers and descriptive data that enable efficient global trading, today announced that Spot Trading LLC, a technology-focused proprietary trading firm, has selected the CGS Options Service for tracking options contracts and to assist with internal symbology cross-referencing.
"Having an official CUSIP for each option contract and the underlying security brings precision and efficiency to our trading operations," said Jordan Zounis, Partner and Director of Research with Spot Trading LLC. "The standardized, 9-character CUSIP also easily maps to the symbols from the Options Price Reporting Authority (OPRA) and Options Clearing Corporation (OCC)."
The CGS Options Service provides CUSIP identifiers and descriptive data for over 500,000 US and Canadian listed equity, ETF, and Index options. To distinguish them from other CUSIPs, the third position is reserved for a C or P, indicating a call or put option. CGS' Options Service includes data elements such as strike price, contract size, and the CUSIP Issuer Description, and is delivered via internet FTP.
"We're excited to partner with a technologically progressive firm like Spot Trading," said Matthew Bastian, Director of CGS Market, Business and Product Development. "Their integration of the Options Service reflects their commitment to maintaining the most comprehensive, accurate and universally interoperable security master database possible. This level of options data tracking, mapping and cross-referencing is only attainable through a standards practitioner like CGS."For more information on the CGS Options Service, contact CGS at 212-438-4500. About CUSIP Global Services The financial services industry relies on our unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Our extensive focus on standardization over the past 45 years has helped us earn the reputation for being the trusted originator of quality identifiers and descriptive data, ensuring that essential front- and back-office functions run smoothly.