OCC Sets New Record with 5 Billion Cleared Contracts to Date in 2018 | Financial Buzz

OCC Sets New Record with 5 Billion Cleared Contracts to Date in 2018

OCC, the
world’s largest equity derivatives clearing organization, today said
its total cleared contract volume on behalf of the U.S. equity options
and futures industry has exceeded 5 billion for the year. OCC has
cleared 5.01 billion total contracts and 4.91 billion options contracts
year-to-date, surpassing the previous records of 4.60 billion total
contracts and 4.56 billion options contracts set in 2011. The new
industry volume record will be finalized at year-end, since 10 business
days remain in 2018.

“The efficient clearance and settlement of more than five billion
contracts is a remarkable achievement for the U.S. equity options and
futures industry and OCC and is representative of the work OCC does in
serving our participating exchanges, clearing firms and market users. I
am very proud of the OCC team’s ability to promote stability and market
integrity through effective and efficient clearance, settlement and risk
management services to the users of these important financial markets,”
said John
Davidson, OCC Chief Executive Officer.

So far in 2018, OCC has cleared a daily average of 20,774,677 options
and futures contracts. This is 20.5% higher than the daily cleared
contract average of 17,241,342 for 2017 and 13.8% higher than the daily
cleared contract average of 18,257,762 for 2011, the previous
record-holding year.

About OCC

OCC is the world’s largest equity derivatives clearing organization and
the foundation for secure markets. Founded in 1973, OCC operates under
the jurisdiction of both the U.S. Securities and Exchange Commission
(SEC) as a registered clearing agency and the U.S. Commodity Futures
Trading Commission (CFTC) as a Derivatives Clearing Organization. Named
2018 Best Clearing House by Markets Media, and Clearing House of
the Year – The Americas by FOW, OCC now provides central
counterparty (CCP) clearing and settlement services to 19 exchanges and
trading platforms for options, financial futures, security futures, and
securities lending transactions. More information about OCC is available
at www.theocc.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20181217005496/en/

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