Demonstrating its commitment to transparency as the foundation for secure markets, OCC, the world's largest equity derivatives clearing organization, today announced that its quantitative disclosure regarding the Principles for Financial Market Infrastructures has been published and made available on the company's website in accordance with the Committee on Payments and Market Infrastructures and the Board of the International Organization of Securities Commissions' "Public Quantitative Disclosure Standards for Central Counterparties." This is OCC's initial publication of the disclosure as global central counterparties begin sharing their risk framework and quantified financial resources with market participants.
Michael McClain, OCC President and Chief Operating Officer, said, "Serving as the foundation for secure markets, OCC embraces its leadership role to serve industry participants by providing transparency related to its financial resiliency."
"Given the critical role central counterparties such as OCC play in providing confidence to financial markets, we believe it is important that market participants have the necessary information about the resources and system of safeguards that stand behind our financial guarantee," added John Fennell, OCC Executive Vice President, Financial Risk Management.
The disclosure will be updated quarterly and can be found here.
Additional questions pertaining to the disclosure may be directed to PFMIdisclosures@theocc.com.