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SPZI News Symbol Management Clearing Corporation (SMCC) to U...
Wednesday, June 4, 2008 9:02 AM

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News for 'SPZI' - (Symbol Management Clearing Corporation (SMCC) to Unveil SymbologyDNA(TM) Methodology)


CHICAGO, Jun 04, 2008 (BUSINESS WIRE) -- Symbol Management Clearing Corporation
(SMCC) is pleased to announce the unveiling of the SymbologyDNA(TM) methodology
for use as the standardized link to the Options Symbology Initiative (OSI). On
June 11, 2008, SMCC will present and recommend to the Financial Information
Forum (FIF) and to the financial industry its recommendation to adopt
SymbologyDNA(TM) methodology and processes to ensure standardization,
consistency and accuracy to global symbology management throughout all financial
systems.

Currently, the entire financial industry is being asked to modify their systems
for OSI compliancy to handle a 21 character option symbol from the Options
Clearing Corporation (OCC), and a 17 character option symbol from the Option
Price Reporting Authority (OPRA). The proposed OSI methodology will undoubtedly
carry a multi-billion dollar price tag for the industry to bear, similar to that
of Y2K, and will impact systems end-to-end posing enormous risk to all financial
environments.

SMCC's CEO, Lee Clifford says "We have carefully listened to industry
representatives and are uniquely positioned to offer this solution. We believe
we have met all of the objectives of the OSI plan in addition to adding new
depth for the industry. The goal of standardized naming conventions for options
series data and the derivatives industry is now achievable through
SymbologyDNA(TM)."

SymbologyDNA(TM) will be used as an enhancement to the OSI. It will allow
financial firms to translate 5 or 9 character symbology representations into the
new 17 or 21 character symbology formats and vice versa. In fact, with the
SymbologyDNA(TM) process in place, the financial industry will be in a position
to benefit from the next generation of electronic trade clearing systems for the
ever expanding derivatives industry.

"It is clear that the industry desires an approach to receiving accurate and
efficient information with minimal impact to their internal systems," stated
Paul Strickland, CEO of Spooz. "We intend to deliver the technology to deploy
SymbologyDNA(TM) in such a way as to save the industry billions."

About SMCC (Symbol Management Clearing Corporation)

SMCC is a joint venture company of Spooz Technologies, Inc., a wholly owned
subsidiary of Spooz, Inc. (Pink Sheets: SPZI) and SFB Market Systems, Inc., a
privately owned corporation. The goal of the SMCC is to incorporate the advanced
technologies provided by Spooz into the expansion of SFB's products and services
known as Symbol Manager(TM) and Symbol Master(R) for the purpose of regulating
global symbology management.

SMCC will provide brokers, exchanges, and clearing firms with a flexible and
robust platform from which to reserve and request new symbols for listed trading
products. This will also allow for the creation of synthetic products to which
new symbols may be assigned, such as spreads, baskets, and combinations. The new
electronic system will replace the antiquated manual processes and is expected
to save the exchanges and the industry millions of dollars.

Forward Looking Statements

This press release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act
of Forward-Looking Statements: This news release may contain forward-looking
statements as defined by the Private Securities Litigation Reform Act of 1995.
These statements present management's expectations, beliefs, plans and
objectives regarding future financial performance, and assumptions or judgments
concerning such performance. Any discussions contained in this release, except
to the extent that they contain historical facts, are forward-looking and
accordingly involve estimates, assumptions, judgments and uncertainties. There
are a number of factors that could cause actual results or outcomes to differ
materially from those addressed in the forward-looking statements.

SOURCE: Spooz, Inc.




CONTACT: for SpoozDaryl Dennis, CMO, [e-mail] SFBLisa Becker, [e-mail]




Copyright Business Wire 2008

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