OSI Testing Subcommittee. Date: March 20, March 27, 2009 Meeting Recap

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1 To: From: OSI Testing Subcommittee Karen Glad Date: March 20, 2009 Subject: March 27, 2009 Meeting Recap Attendees (I apologize in advance for any names I have missed adding to this list. This list is based on the s I received indicating participation.) Karen Glad OCC Mary Kay Kulinski OCC Tracy Poole OCC Mark Grinbaum ISE John Shelton NASDAQ-OMX-PHLX Steve Chodash CBOE Rob Petro BOX Ken Hawley NASDAQ Peter Fetiak - NYSE AMEX Bradley Peper RBC Nancy Adams Charles Schwab David D White JP Morgan Chase Stephen McDonald IBM Michael McAllister Southwest Securities Rick Politte Thompson Reuters Brian Connor Scottrade Sara Banerjee Telekurs Sherrol Shand IBM Todd Stave RBC Nicolas Richards JP Morgan Tammy Wong Schwab Greg Sosnoski Goldman Sachs Ray Carlin Credit Suisse Chris Cavaliere RBC Capital Markets Adam Dobratz RBC Wealth Management Jim Hohn CDCC Carlo Spano Broadridge Diane Gonzales Interactive Data Richard Shriver JPM Chanse Sam Aharrah Active Financial Kevin Laufer Thomson Reuters Gadi Goldress Bloomberg Tara Musser CSS Software Les Sanders Townsend Analytics Susan Loverde FMR Vishal Makim Bank of America Securities

2 Beth Wolde JP Morgan Chase Joe Corrigan CBOE Mike Collazo SIAC Brian Faughnan SIAC Meriel Frandsen Goldman Sachs Pam Garvey RBC Wealth Management Scott Wilton Sungard Robert LoCascio Morgan Stanley Johathan Weiner Morgan Stanley Bob Yant Goldman Sachs Agenda: The meeting Agenda had several topics for discussion: 1. Follow-up From Last Meeting - Testing Dates (See Attachment) - Consolidation Timeline (See Attachment) - Symbology Review (See Attachment) 2. Scripted Industry Testing - Business Date vs Calendar Date? 3. Updated Vendor List 4. Information Request (See Attachment) 5. LOPR Update Gary Grey 6. Miscellaneous Follow-up From Last Meeting: Karen Glad OCC provided a brief follow-up on the To Do s that came out of the 3/13/2009 meeting. - Testing Dates: The format of the testing date document has been modified to eliminate the reference to Round 1 or Round 2 and an additional column has also been added that defines the scope of the testing. Updated documentation is available on the OSI Website under the testing link: OSI Scripted Industry Test Dates - Consolidation Timeline: At the 3/13/2009 meeting a concern was raised specific to the number of consolidation events that would be needed and whether or not the actual groupings were still valid. A separate OSI Exchange sub-committee meeting was held to revisit the proposed consolidation events. After much discussion among the exchanges it was determined to leave the plan as is. The most current version of the plan is accessible via the attached links. OSI Consolidation Plan or OSI Consolidation Dates - The document that illustrated how the symbology formats change between the current format, to the Feb 12, 2010 formats through the consolidation evens has been updated. Updated version can be fount on the OSI website. OSI Format Examples Current/Conversion/Consolidation

3 Scripted Industry Test Dates Business vs Calendar Date: This issue of whether or not the scripted industry tests could or should use future business dates was raised at the 3/13/2009 and at that time Karen Glad, OCC, asked everyone to go back and evaluate their test systems and determine what can and cannot be supported. While some participants were still looking into this issue several other did report back. - ISE indicated they did not have any issues with this request - Broadridge SIS would prefer to use the system date which would be the calendar date during scripted industry test dates. - Morgan Stanley, Goldman Sachs, South West all mentioned that that they would prefer using the system date opposed to future date. Karen Glad, OCC indicated that this would remain an agenda topic for this meeting as well as the steering committee meeting and the larger OSI meeting. Karen asked those who prefer to use the system date to validate that they can utilize a Saturday date as a valid business date. Updated Vendor List: Contact information has been updated on the OSI Vendor list located on the OSI website. If there are additional vendors to add to the list please contact Karen Glad at kglad@theocc.com. Information Request: Karen Glad, OCC indicated that it has been brought to the OCC s attention that it would be helpful from and project planning perspective if all of the exchanges, vendors and OCC could provide some dates related to OSI availability. Karen presented the questions/dates to the testing subcommittee and asked if this information would be helpful to everyone from a planning perspective. The testing subcommittee indicated that this information would be helpful and Karen said that she would follow up on getting this information. The questions to be answered are: - Test data available - Testing environment available - Testing end date - Certification required for Scripted industry testing - Certification Start Date - Certification End Date - Production new formats available - Production old formats no longer available - Symbol consolidation begins Large Options Position Reporting (LOPR) Gary Grey, FINRA, provided an updated on the Large Options Position Reporting. This processing is moving from SIAC as the service provider to OCC and with this change the formats are changing to FIXML. The key milestone dates for LOPR are:

4 Milestones Action SROs verify connectivity to OCC Test site Member Firms verify connectivity to OCC Test site Member Firms can start testing with OCC Member Firms must start transmitting test data to OCC on a daily basis External testing period for LOPR data to SROs Transition Period to Decommission SIAC System / go live with OCC Production system to receive process and distribute LOPR data SROs should be ready to accept and store data in their systems Cutover to OCC. Member Firms can stop sending to SIAC. This is the first business record for SRO use. Target Date 9/18/09 9/30/09 October /23/2009 (first Monday after NOV 2009 expiration for activity 11/20/09 Late 3 rd/4th Qtr 2009 (September, October, November) 4 th Qtr 2009 (November, December) 11/23/2009 Activity of 1/19/2010 (this is the first business day after Martin Luther King day). Miscellaneous: A question was asked if there was any follow-up on DTCC s ACATS (Automated Customer Account Transfer System) testing. Karen Glad, OCC indicated that a meeting between OCC and DTCC was scheduled for 4/1/2009 and the results of the meeting would be shared at the next testing subcommittee meeting. A question was raised on when the test symbols would be available. Karen Glad, OCC, indicated that the proposed symbols have been reviewed with the exchanges and were scheduled for review with the steering committee the week of 3/30/2009. Once they were reviewed by the steering committee they would be distributed to the testing subcommittee for review/comment. There was some discussion on the possibility of have option series CUSIP s. Karen Glad, OCC indicated that she was not aware of this. Several others spoke up indicating that is was nothing new but it was a very expensive undertaking which they believed would not get a lot of response.

5 Next Meeting: The next regularly scheduled meeting should be Friday, April 10, Due to the fact that this is a holiday the meeting will be moved to Friday, April 17, Moving the meeting out one week will not disrupt the currently planned bi-weekly schedule. Next meeting is April 17, 2009 and then the meeting following that will remain as currently scheduled for April 24, Date: Friday, April 17, 2009 Time: 9:00 a.m. CT Call In Number: Room Number: * *