Many companies have drawn down on revolving bank credit facilities to get their hands on much-needed cash. But Amy Shelly, CFO of the Chicago-based Options Clearing Corporation (the OCC), the world’s largest equity derivatives clearing organization, faced a different problem during the pandemic: She was sitting on too much cash as a result of an explosion in clearing volumes.
OCC, the world’s largest equity derivatives clearing organization, announced today that August 2020 total cleared contract volume was 615,972,402 contracts– the third highest month on record and up 28.7 percent from August 2019. This also represents the highest August monthly volume in OCC’s history. Year-to-date average daily cleared contract volume through August was 28,466,064 contracts, up 44.7 percent from August 2019.
Aug. 03, 2020
OCC To Lower Costs for Users of U.S. Equity Derivatives Markets
As part of its commitment to deliver operational excellence to the users of the U.S. equity derivatives markets, OCC, the world's largest equity derivatives clearing organization, today announced a reduction in clearing fees, a...
OCC's Matt Wolfe contributed an article, "The Need for Improved Communication in the Securities Lending Industry," to Global Investor's Americas Securities Finance Guide 2020.
Read the article here (pages 18-20).
We want to provide you with information on some important initiatives we are working on which will reduce our fees, support a year-end refund to clearing members and strengthen our prefunded resources with a persistent minimum level of skin-in-the-game.
OCC today is in a stronger financial position than ever before...