A World Class Clearing Organization
OCC, founded in 1973, is the world's largest equity derivatives clearing organization. OCC is dedicated to promoting stability and financial integrity in the marketplaces that it serves by focusing on sound risk management principles. By acting as guarantor, OCC ensures that the obligations of the contracts it clears are fulfilled.
As the marketplace evolves, so do the clearing capabilities at OCC. Although OCC began as a clearinghouse for listed equity options, it has grown into a globally recognized entity that clears a multitude of diverse and sophisticated products. OCC operates under the jurisdiction of both the SEC and the CFTC. As a registered clearing agency under SEC jurisdiction, OCC clears transactions for exchange-listed options, security futures and OTC options. As a registered derivatives clearing organization under CFTC jurisdiction, OCC offers clearing and settlement services for transactions in futures and options on futures. OCC also provides central counterparty clearing and settlement services for securities lending transactions. In addition, OCC has been designated as a "systemically important" financial market utility under Title VIII of the Dodd-Frank Act.
The management of OCC's business affairs is vested in its Board of Directors which includes diverse representation from exchanges, clearing members, public directors and management. OCC receives most of its revenue from clearing fees charged to its members. OCC offers volume discounts on fees and, as applicable, refunds excess fees to its clearing members.
The Exchanges and Markets We Serve
OCC's participant exchanges include: BOX Options Exchange LLC; Cboe Exchange Inc.; Cboe BZX Options Exchange; Cboe C2 Exchange Inc.; Cboe EDGX Options Exchange; MIAX Emerald LLC; MIAX Options Exchange; MIAX PEARL, LLC; Nasdaq BX Options; Nasdaq GEMX; Nasdaq ISE; Nasdaq MRX; Nasdaq Options Market; Nasdaq PHLX LLC; NYSE American Options; and NYSE Arca Options. OCC's clearing members serve both professional traders and public customers and comprise more than 100 of the largest U.S. broker-dealers, futures commission merchants and non-U.S. securities firms. OCC's goal is to service clearing members and the exchanges through an operating plan that emphasizes timely, reliable and cost-efficient clearing operations.
OCC also serves other markets, including those trading financial futures and securities lending transactions. OCC clears futures contracts traded on Cboe Futures Exchange LLC and Small Exchange, Inc. In addition, OCC provides central counterparty services for one securities lending market structure, Equilend Clearing Services, LLC.
We promote stability and market integrity through effective and efficient clearance, settlement and risk management services while providing thought leadership and education to market participants and the public about the prudent use of products we clear.
OCC at a Glance
Annual Volume Infographic