An object code optimizer, sometimes also known as a post pass optimizer or, for small sections of code, peephole optimizer, forms part of a software compiler. It takes the output from the source language compile step - the object code or - and tries to replace identifiable sections of the code with replacement code that is more algorithmically efficient (usually improved speed). The earliest "COBOL Optimizer" was developed by Capex Corporation in the mid 1970s for COBOL. This type of optimizer depended, in this case, upon knowledge of 'weaknesses' in the standard IBM COBOL compiler, and actually replaced (or patched) sections of the object code with more efficient code. The replacement code might replace a linear table lookup with a binary search for example or sometimes simply replace a relatively slow instruction with a known faster one that was otherwise functionally equivalent within its context. This technique is now known as strength reduction. For example, on the IBM/360 hardware the CLI instruction was, depending on the particular model, between twice and 5 times as fast as a CLC instruction for single byte comparisons. The main advantage of re-optimizing existing programs was that the stock of already compiled customer programs (object code) could be improved almost instantly with minimal effort, reducing CPU resources at a fixed cost (the price of the proprietary software). A disadvantage was that new releases of COBOL, for example, would require (charged) maintenance to the optimizer to cater for possibly changed internal COBOL algorithms. However, since new releases of COBOL compilers frequently coincided with hardware upgrades, the faster hardware would usually more than compensate for the application programs reverting to their pre-optimized versions (until a supporting optimizer was released). Some binary optimizers do executable compression, which reduces the size of binary files using generic data compression techniques, reducing storage requirements and transfer and loading times, but not improving run-time performance.

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Self-modifying code
In computer science, self-modifying code (SMC or SMoC) is code that alters its own instructions while it is executing – usually to reduce the instruction path length and improve performance or simply to reduce otherwise repetitively similar code, thus simplifying maintenance. The term is usually only applied to code where the self-modification is intentional, not in situations where code accidentally modifies itself due to an error such as a buffer overflow.

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