CHICAGO--(BUSINESS WIRE)--OCC, the world’s largest equity derivatives clearing organization, announced today that Elizabeth King, General Counsel of NYSE Group, has joined the Board of Directors as an Exchange Director. She fills a vacancy created by the departure of former NYSE Group President Thomas Farley in May.
As General Counsel, King manages the legal department for NYSE Group, which includes four cash equity and two equity options markets, including the New York Stock Exchange. Prior to joining NYSE Group, she was Deputy General Counsel and Global Head of Regulatory Affairs at securities trading firm KCG Holdings, Inc. Before joining KCG, King was Associate Director, Division of Trading and Markets at the U.S. Securities and Exchange Commission, where she was responsible for the SEC’s regulatory program for oversight of the securities markets.
“As a Systemically Important Financial Market Utility, OCC works diligently to clear the path for investors by ensuring confidence in the financial markets and the broader economy," said Craig Donohue, OCC Executive Chairman and Chief Executive Officer. "The addition of Elizabeth to our board of directors supports OCC’s continued resiliency, innovation and growth as an industry leader and market influencer in our mission to provide high quality and efficient clearing, settlement and risk management services to market participants.”
King holds a J.D. from the University of Pennsylvania, and an A.B. from Duke University.
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, 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.