In the modern era of multi-core systems, the main aim is to utilize the cores properly. This utilization can be done by concurrent programming. But developing a flawless and well-organized concurrent program is difficult. Software Transactional Memory Systems (STMs) are a convenient programming interface which assist the programmer to access the shared memory concurrently without worrying about consistency issues. Many STMs available in the literature execute read/write primitive operations on memory buffers. We represent them as Read-Write STMs or RWSTMs. Whereas, there exists some STMs which work on higher level operations. We refer these STMs as Object Based STMs or OSTMs. The literature of databases and RWSTMs say that maintaining multiple versions ensures greater concurrency. So, this paper proposes the notion of Optimized Multi-version Object Based STMs or OPT-MVOSTMs which encapsulates the idea of multiple versions in OSTMs to harness the greater concurrency efficiently. © 2021 Elsevier Inc.