CHICAGO--(BUSINESS WIRE)--Second paragraph, second sentence, John Davidson's title should be OCC President and Chief Operating Officer (instead of OCC Chief Executive Officer).
The corrected release reads:
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 President and Chief Operating 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
