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OCC to Provide Year-End Refund for Clearing Member Firms

December 17, 2020
Chicago, IL -

OCC, the world's largest equity derivatives clearing organization, today announced that its Board of Directors has approved a refund of $156 million to be paid to clearing member firms on April 19, 2021.

“As part of our ongoing efforts to strengthen OCC’s resiliency while also delivering operational excellence and efficiency, OCC’s Board of Directors approved this refund for our clearing member firms,” said John Davidson, OCC Chief Executive Officer.

“The record volume we’ve experienced in 2020, combined with the expense discipline we’ve achieved, has put us in a position to continue to invest in our infrastructure and also refund fees to clearing members consistent with our Capital Management Policy,” said Scot Warren, OCC Chief Operating Officer.

Earlier this year, OCC announced a reduction in clearing fees from five-and-a-half cents to four-and-a-half cents effective September 1, 2020, the projected year-end refund for clearing member firms, and its intention to seek regulatory approval to amend its Capital Management Policy with a persistent minimum amount of “skin-in-the-game.” The announcement can be found on OCC’s Website here

 

Media Contact:
Michael Shore
312-322-1150
[email protected]

About OCC

OCC is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2020 Best Clearing House – Equities by Markets Media for the third consecutive year, OCC now provides central counterparty (CCP) clearing and settlement services to 20 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.

This web site discusses exchange-traded options issued by The Options Clearing Corporation. No statement in this web site is to be construed as an endorsement, recommendation or solicitation to purchase or sell a security, or to provide investment advice. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of the disclosure document, Characteristics and Risks of Standardized Options. Individuals should not enter into option transactions until they have read and understood this document. To obtain copies, contact your broker, any exchange on which options are traded, or The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606 ([email protected]).