Infosys, Waters host briefing on Options Symbology
Infosys' experts discussed the challenges of Options Symbology Initiative (OSI) and approaches to cost-effective implementation at a Waters Breakfast Briefing in New York.
Sanjay Taneja, Senior Principal, Banking and Capital Markets consulting team, Infosys, was the keynote speaker. He discussed the challenges faced by brokers and dealers who are affected by OSI and outlined the best practices to keep the overall OSI remediation cost low while ensuring implementation, consistency, quality and comprehensiveness. He also demystified areas in OSI regulations.
Sanjay emphasized data quality during his presentation. Although data quality is not a regulatory mandate, he believes that firms should adopt a holistic data quality approach before implementation. It would help to identify the options that are missing or unusable, the options that are stored in non-standard format, and the options that are inaccurate, repeated or not referenced.
Abhimanyu 'Archie' Acharya, senior member, Client Relationship team, Banking and Capital Markets, Infosys, urged firms to act immediately. He cautioned against a false sense of security in the event of the implementation deadline being extended. Abhimanyu said that OSI implementation was an opportunity for firms to streamline processes in SDLC, communication management and configuration management.
Learn more about Infosys' approach to the Options Symbology Initiative
Watch session webcast | The Options Symbology Mandate -Readexcerpts from the discussion