The Financial Industry Regulatory Authority (FINRA) has issued Regulatory Notice 09-18 to outline changes to Electronic Blue Sheet Submissions following implementations of the Option Symbology Initiative (OSI). In June 2008, the Options Clearing Corporation and its participant exchanges began implementing OSI in an effort to overhaul the existing method of identifying exchange-traded options contracts by replacing Options Price Reporting Authority codes and fractional strike price values with a new Symbology Key that will contain explicit expiration dates and decimal strike price values. Following implementation of the OSI, member firms must be able to support explicit options identifiers that will require a change to existing blue sheet layouts. The modified format may be used on a voluntary basis starting on April 30 and becomes mandatory on February 12, 2010. The notice reminds member firms that a failure to fill out blue sheet fields properly is a violation of FINRA Rule 8211 and/or FINRA Rule 8213.