This article needs to be updated. The reason given is: Information regarding its activities 2017-onwards is not present. Please help update this article to reflect recent events or newly available information.(October 2022)
Financial services business
Not to be confused with Office of the Comptroller of the Currency.
Options Clearing Corporation
Industry
Financial services
Founded
1973 (1973)
Headquarters
Chicago, Illinois, U.S.
Products
Clearing house (finance), Equity derivatives clearing
Website
www.theocc.com
Options Clearing Corporation (OCC) is a United States clearing house based in Chicago. It specializes in equity derivatives clearing, providing central counterparty (CCP) clearing and settlement services to 16 exchanges. It was started by Wayne Luthringshausen and carried on by Michael Cahill. Its instruments include options, financial and commodity futures, security futures, and securities lending transactions.
Like all clearing houses, the OCC acts as a guarantor between clearing parties, ensuring that the obligations of the contracts it clears are fulfilled. It currently holds approximately $100 billion of collateral deposited by clearing members and moves billions of dollars a day. In 2011, OCC became the largest equity derivatives clearing organization in the United States. Furthermore, in 2016, it cleared contract volume totaled 4.17 billion, making it the fifth highest annual total in OCC's history.[1]
OCC currently operates under the jurisdiction of both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Under its SEC jurisdiction, OCC clears transactions for put and call options on common stock and other equity issues, stock indexes, foreign currencies, interest rate composites, and single-stock futures. As a registered Derivatives Clearing Organization (DCO) under CFTC jurisdiction and a designated Systemically Important Financial Market Utility (SIFMU) under the Dodd-Frank Act, OCC offers clearing and settlement services for transactions in futures and options on futures contracts.[2]
OCC is overseen by a clearing member dominated board of directors[3] and operates as a financial market utility, receiving most of its revenue from clearing fees charged to its members.
^"OCC Fact Sheet" (PDF). OCC. March 6, 2017.
^"OCC Lingo: SIFMU Stands For Clearinghouse Changes". John Lothian News (JLN). 23 April 2015. Retrieved 4 November 2018.
^"OCC Board Member Bios". OCC. December 1, 2015.
and 23 Related for: Options Clearing Corporation information
OptionsClearingCorporation (OCC) is a United States clearing house based in Chicago. It specializes in equity derivatives clearing, providing central...
City, New Jersey) OneChicago OptionsClearingCorporation Volatility Index "CBOE Market Stats" (PDF). Chicago Board Options Exchange. Archived from the...
at the time of default. The options market, with its OptionsClearingCorporation (OCC), also acts as a central clearing counterparty. Its rules stipulate...
multinational financial services corporation Nasdaq, Inc. It is a member of the OptionsClearingCorporation (OCC) and the Options Industry Council (OIC). Founded...
Exchange (CME), which was founded in 1898 as a nonprofit corporation. In 1919, it established its clearing house. In 2000, CME demutualized. In 2002, CME became...
FUTOP Clearing Center A/S, the Danish derivatives market, became a wholly owned subsidiary. FUTOP issues, clears, and guarantees futures and options on shares...
four clearing houses in Hong Kong: Hong Kong Securities Clearing Company Limited (HKSCC), HKFE ClearingCorporation Limited (HKCC), the SEHK Options Clearing...
quoted or traded. US equity options, typically cleared by the OptionsClearingCorporation, underwent an initiative between 2008 and 2010 to change the...
Japan Exchange Regulation (JPX-R), and a central clearing counterparty, Japan Securities ClearingCorporation (JSSC). As of June 2021, it is the world's fifth-largest...
futures on 12 June 2000. The futures and options segment of NSE has made a global mark. In the Futures and Options segment, trading in the NIFTY 50 Index...
STANS (a Monte Carlo simulation based methodology used by the OptionsClearingCorporation (OCC)), TIMS (earlier used by the OCC, and still being used by...
more is possible. Portfolio margin is calculated using the OptionsClearingCorporation's (OCC) Customer Portfolio Margin system. This system—based on...
of options for a given issuer were consolidated into a single root ticker for a given underlying symbol. OptionsClearingCorporation's (OCC) Options Symbology...
such as IBM, Apple and Google. All trading was cleared through OptionsClearingCorporation (OCC). The OneChicago exchange closed in September 2020. The...
after CME OptionsClearingCorporation Depository Trust Company – subsidiary of Depository Trust & ClearingCorporation (DTCC) Fixed Income Clearing Corporation...
operates the Clearing House Interbank Payments System (CHIPS) in the U.S. CME Clearing, ICE Clear Credit, and the OptionsClearingCorporation, involved...
unique multi-tiered members' clearing system, strict risk management policy and an organization structure like a corporation to improve its competitive...
Limited, the Canadian Derivatives ClearingCorporation (CDCC), as well as stakes in both CanDeal.ca Inc. and BOX Options Exchange. Other notable subsidiaries...
Intermarket Margin System a risk-based margin methodology used by the OptionsClearingCorporation Timberland (company), whose boots are known as Tims Tim Hortons...
trading S&P BSE SENSEX futures contracts. The development of S&P BSE SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the...
45(1) of Securities Contracts (Regulation) (Stock Exchanges and ClearingCorporations) Regulations, 2018 prohibits self-listing of a stock exchange in...
Global Information
