The group features Olympians from all over the world representing both Summer and Winter Olympic sports.

Among them is Trinidadian sprinter Ato Bolden, American luger Ronald Rossi and Aruban synchronised swimmer Nicole Hoevertsz, an International Olympic Committee (IOC) member.

Others include German snowboarder Konstantin Schad, British middle-distance runner Dame Kelly Holmes and Japanese swimmer Hanae Ito.

IOC President Thomas Bach - a team foil fencing champion at the Montreal 1976 Olympics - became the first person to receive the honour during the International Athletes' Forum in Lausanne earlier this month.

World Olympians' Association President Joël Bouzou made the presentation and encouraged all Olympians from around the world to register.

The initiative allows Olympians to use the "OLY" post-nominal letters on official documentation, CVs, business cards, social media or anywhere they would use their name, in the same way a university graduate may use PhD.

Serving as a symbolic recognition of an Olympian’s status in society, "OLY" promotes an Olympian’s social, charitable, and community-based work, acting as a reminder of their achievements and of their responsibility to embody the values of Olympism in everyday life.

"OLY" also helps connect the global Olympian community.

Romanian weightlifter Dragomir Cioroslan, ‎who is the director of international strategies and development at the United States Olympic Committee, believes that the "OLY" post-nominal letters "positively impact the lives of tens of thousands of Olympians in every corner of the planet".

Bouzou added: "We have been overwhelmed by the fantastic response we have had so far for the 'OLY' initiative.

"We have received many emails from Olympians thanking us for providing this service.

"Olympians are proud of their achievements, and rightly so.

"It is important that they now have this opportunity to demonstrate their journey as an Olympian, and the immense dedication involved.

"'OLY' will also help Olympians in the work they do in society as they live the Olympic ideals.

"The skills required to become an Olympian are the same as those which are needed to become an excellent professional in any career.

"'OLY' will better highlight those skills and will help Olympians to find jobs after their sports career is over."

Olympians can sign up for "OLY" here.