 Because of their rapid growth rate, short life span, and tolerance to handling and captivity, bigfin reef squids are regarded as one of the most promising species for mariculture.They are also a valuable source of giant axons for medical research.Bigfin reef squids are also known as northern calamary in Australia and New Zealand, to distinguish them from the southern reef squid (or southern calamary), "Sepioteuthis australis".