OCC, the world's largest equity derivatives clearing organization, today congratulated Jerome Powell upon his confirmation by the U.S. Senate to be Chairman of the Federal Reserve.
"OCC congratulates Jerome Powell on his confirmation as Fed Chair, and we look forward to working with him and the members and staff of the Federal Reserve on the key issues related to strengthening the level of confidence by investors and market participants in the U.S. financial markets, said Craig Donohue, OCC Executive Chairman and CEO.
"Risk permeates every aspect of the global economy. Centrally-cleared, exchange-traded derivatives markets provide a secure marketplace for investors seeking to manage those risks. In its role as a Systemically Important Financial Market Utility, OCC is committed to ensuring that these markets remain robust, and that the regulation of these markets fosters their important benefits of transparency, fairness, and resilience without creating competitive disadvantages."