CHICAGO--(BUSINESS WIRE)--OCC, the world's largest equity derivatives clearing organization, today congratulated the Small Exchange on its successful launch. With this newest addition, OCC now provides central counterparty clearing and settlement services to 21 exchanges and trading platforms for options, security futures, financial and commodity futures, and securities lending transactions.
"As the U.S. exchange-traded derivatives industry continues to expand, we are pleased to welcome the Small Exchange as a participant exchange,” said OCC Chief Executive Officer John Davidson. “In that role, the Small Exchange will be afforded the full range of clearing and risk management services available to all of our other participating exchanges.”
Chief Operating Officer Scot Warren added, “As a Systemically Important Financial Market Utility, we look forward to working with the Small Exchange and promoting operational excellence and innovation to support the continued growth of exchange-traded options and futures in the U.S.”
About the Small Exchange
Based in Chicago, the Small Exchange is backed by award-winning industry innovators and powered by a proprietary matching engine. The company facilitates trading for all types of market participants, and its initial product offering consists of cash-settled futures contracts based on proprietary indices in equities, metals, and foreign exchange. Products are smaller in notional size and have a corresponding margin requirement, with standardized expirations and tick sizes that facilitate ease of use for retail customers.
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 2020 Best Clearing House – Equities by Markets Media, OCC now provides central counterparty (CCP) clearing and settlement services to 21 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.