OCC Clears More Than 5 Billion Options Contracts in 2018
OCC, the world’s largest equity derivatives clearing organization, today said its total cleared options contract volume on behalf of the U.S. equity options and futures industry has exceeded 5 billion for the year, a new record. OCC has cleared 5.01 billion options contracts year-to-date, surpassing the previous record of 4.56 billion cleared options contracts, set in 2011. The new industry volume record will be finalized at year-end since six business days remain in 2018.
OCC, which also clears futures contracts, has cleared 5,112,194,038 total contracts thus far in 2018, including 5,009,261,861 options contracts.
OCC has cleared an average daily volume of 20,445,967 options contracts so far in 2018. This is 22.5% higher than the daily options average of 16,691,423 for 2017 and 12.9% higher than the daily options average of 18,106,144 for 2011, the previous record-holding year.
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
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Trading Technologies has partnered with Chinese clearing broker COFCO Futures.
Phase 5 of the uncleared margin rules (UMR) took effect from September 2021.
Temporary equivalence is set to expire on June 30 2022.
IRS trading volumes have fragmented without an equivalence agreement.