CHICAGO--(BUSINESS WIRE)--OCC, the world's largest equity derivatives clearing organization, has been honored as the Clearing House of the Year in 2022 by Risk Magazine.
"This award highlights the importance of OCC’s role in providing resiliency, stability and integrity to financial markets and the broader economy," said Craig Donohue, OCC Executive Chairman. "We are proud of this recognition and will continue to strive for excellence while fulfilling our commitment to delivering world-class clearing, settlement and risk management services to our participant exchanges, clearing member firms and market participants, and to serve as the foundation for secure markets.”
The Risk Awards recognize excellence in the global derivatives markets and in risk management across 27 categories. Entries were evaluated by Risk.net’s editors and journalists, weighing factors such as risk management, creativity and innovation, quality of service and customer satisfaction, and engagement with regulatory issues. Read the full list of honorees here.
"Over the last two years, OCC has managed sustained record-shattering volume," said John Davidson, OCC Chief Executive Officer. “While our resiliency was put to the test, the circumstances enabled us to demonstrate to market participants that we were well prepared, reinforcing the confidence we have built in OCC’s ability to deliver in all types of market conditions. Concurrently, OCC made significant efforts and investments to enhance our financial, operational and technological resiliency to fulfill the expectations of market participants. We are pleased those efforts have been recognized.”
Scot Warren, OCC Chief Operating Officer, added, "OCC operates as an industry utility that seeks to be effective and efficient in the delivery of our services, and we cannot do that without great people. Through their persistent focus and commitment to excellence, our colleagues have enabled us to thrive in times of extreme market volatility and extraordinary volume. This award is also a testament to their ability to anticipate and manage rapidly changing market conditions. I am grateful to work alongside dedicated, talented colleagues every day and pleased to see their accomplishments recognized through this award.”
In 2021, OCC’s total cleared contract volume set a record at 9.93 billion contracts, surpassing the 2020 volume record of 7.52 billion contracts. From year-end 2019 to year-end 2021, average daily cleared contract volume has increased by 99.5 percent.
About OCC
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
©2022. The Options Clearing Corporation. All rights reserved.
