OCC Sets Record Volume in October


The OCC, the world’s largest equity derivatives clearing organization, announced a record 567,833,544 total contracts cleared in October, the highest monthly total since OCC’s founding in 1973.

October volume was up 48.9 percent compared to October 2017 volume of 381,467,272. OCC’s year-to-date average daily cleared contract volume is up 21.3 percent, with 20,698,059 contracts compared to 17,070,435 contracts in 2017.

“OCC cleared record volume in October, providing high-quality and efficient clearance and settlement of exchange-traded options and futures as we continue to work to meet the heightened regulatory requirements expected of us as a Systemically Important Financial Market Utility. This achievement is a tribute to the hard work of many people across OCC and a demonstration of our commitment to serve as the foundation for secure markets,” said John Davidson, OCC President and Chief Operations Officer.

Options: Overall exchange-listed options volume reached 555,628,831 contracts in October, up 49.7 percent from October 2017. Equity options volume reached a total of 492,277,954 contracts, a 50.7 percent increase from October 2017. This includes cleared ETF options volume of 230,928,177 contracts last month, a 83.4 percent increase compared to October 2017 volume of 125,932,951 contracts. Index options volume was up 42.8 percent with 63,350,877 contracts in October, with year-to-date average daily volume up 12.2 percent from October 2017.

Futures: Futures cleared by OCC reached 12,204,713 contracts in October, up 17.0 percent from October 2017. OCC’s year-to-date average daily cleared futures volume is 421,033 contracts, 24.5 percent less than 2017.

Securities Lending: OCC’s securities lending CCP activity was up 25.7 percent in new loans from October 2017 with 129,863 transactions last month. Year-to-date stock loan activity increased 20.1 percent from 2017 with 1,155,291 new loan transactions in 2018. The average daily loan value at OCC in October was $82,134,436,585.

Note: Beginning in October 2018, OCC adjusted its formula for average daily loan value to better reflect prevailing industry standards. OCC now reports average daily loan value based only on loan balance; previous reporting was based on both loan and borrow balances. No change was made to the reporting of transaction numbers.

For 2018 monthly exchange market share information, click here.

October 2018 Total Contract Volume October 2017 Total Contract Volume October Total Contract % Change vs. 2017 YTD Avg. Daily Contract 2018 YTD Avg. Daily Contract 2017 YTD Avg. Daily Contract % Change vs. YTD 2017
Equity Options 492,277,954 326,672,894 50.7% 18,065,214 14,540,821 24.2%
ETF Options 230,928,177 125,932,951 83.4% 7,726,565 6,343,992 21.8%
Index Options 63,350,877 44,365,513 42.8% 2,211,812 1,972,017 12.2%
Total Options 555,628,831 371,038,407 49.7% 20,277,026 16,512,838 22.8%
Total Futures 12,204,713 10,428,865 17.0% 421,033 557,597 -24.5%
Total Volume 567,833,544 381,467,272 48.9% 20,698,059 17,070,435 21.3%

Related articles

  1. ISDA survey shows variety of views on whether increased clearing would improve resilience and efficiency.

  2. Crypto derivatives need central clearing to become a major asset class.

  3. New Collateral Transformers To Emerge

    Clients can agree collateral on a real-time basis and increase efficiencies.

  4. Margin and collateral are a new use case for bond ETFs.

  5. Additional volatility due to unforeseen macro events, particularly the conflict in Ukraine, were contribers.