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2019 OCC Blog

December 4, 2019
OCC's Transformation: Enhanced Efficiency and Agility
By Bill Raczyk, OCC Vice President, Process Innovation
In an age of ever-more-rapidly evolving technology, businesses need to engage in constant reinvention to remain relevant. OCC, the world's largest equity derivatives clearing organization, is no different.
Categories: Business Continuity, Clearing Services, Company Updates, Market Efficiencies

November 26, 2019
OCC: Moving Clearing, Data, and Risk Applications to the Cloud
By David Hoag, OCC Chief Information Officer and Mark Morrison, OCC Chief Information Security Officer
In January, OCC announced the launch of our Renaissance Initiative, a multi-year, $100 million-plus initiative to comprehensively redevelop and modernize our technology infrastructure, including risk management, clearing and data systems. When this work is completed, OCC will achieve enhanced resiliency, an improved security and compliance posture, and more effective and efficient operations. It also will allow OCC to function as a more nimble organization, delivering business capabilities to better serve the users of the U.S. equity derivatives market.
Categories: Business Continuity, Clearing Services, Company Updates, Market Efficiencies, Risk Management

October 30, 2019
How OCC Helps Clearing Firms Improve Operational and Collateral Efficiency
By Matt Wolfe, OCC Vice President of Business Development
As the world's largest equity derivatives clearinghouse, OCC has an innovative methodology for measuring risk and valuing collateral. It allows our clearing member firms the opportunity to post, collectively, billions of dollars less in collateral every day.
Categories: Clearing Services, Market Efficiencies, Risk Management, Securities Lending/Stock Loan

October 24, 2019
Enhancing Traditional Approaches to Manage Cyber Security Risks
By Mark Morrison, OCC Chief Information Security Officer
At the July World Federation of Exchanges Technology Summit in Umea, Sweden, there was a lively cyber security panel discussion covering the challenges associated with implementing new and emerging technologies in the financial sector. The panel explored how the implementation of technologies like Blockchain, Distributed Ledger, Artificial Intelligence, Machine Learning, and Public Cloud requires financial institutions to enhance traditional approaches for protecting information systems and data to address the operational, regulatory, and security risks introduced.
Categories: Blockchain, Business Continuity, Cyber Security, Operational Risk Management, Risk Management

August 20, 2019
Recent Strides in OCC's Transformation
By Craig Donohue, Executive Chairman, John Davidson, OCC Chief Executive Officer, Scot Warren, Chief Operating Officer
There have been significant transformation efforts undertaken at OCC by our colleagues during the last several years. OCC's transformation is a broad, multi-year undertaking covering every aspect of our organization: our financial resiliency, our people, our processes, and our technology.
Categories: Company Updates, Industry Education, Risk Management, Talent Management

August 6, 2019
How OCC Uses Low Code to Transform its Business Processes
By Adeel Javed, OCC Manager of Enterprise Technology Solutions
OCC clears approximately 19 million options and futures contracts a day. As you might imagine, this involves a lot of moving parts; heightened regulatory expectations in OCC's role as a Systemically Important Financial Market Utility require the need for accuracy. We are always looking for ways to improve our processes and strengthen our resiliency. One solution we recently identified is further pushing the bounds of automation, using two low-code tools.
Categories: Compliance, Market Efficiencies, Risk Management

March 25, 2019
What Does the Future Hold for Securities Lending?
By Matt Wolfe, OCC Vice President of Business Development
While strong relationships will always be important in the securities lending marketplace, there is a growing emphasis on data collection. Decisions are being influenced by data analytics. In my view, the future of securities lending will be data-driven and the leaders will be those that make the most effective use of data.
Categories: Securities Lending/Stock Loan, Risk Management

February 27, 2019
Technology is the Foundation of Efficient and Effective Capital Markets
By John Davidson, OCC Chief Executive Officer
The U.S. has the world's deepest and most liquid capital markets in part because it has the best and most innovative technology from a plethora of highly competitive users and providers. Within the market infrastructure industry, I see technology as an enabler of efficient and effective capital markets.
Categories: Clearing Services, Cyber Security, Market Efficiencies, Regulation, Risk Management

January 9, 2019
The Essential Components of The Risk Management Framework for CCPs
By Dale Michaels, OCC Executive Vice President, Financial Risk Management
Central counterparties (CCPs) like OCC have performed extraordinarily well during many stressful periods, including the financial crisis of 2008. This is due to the many clearinghouse innovations that have been put in place, including mark-to-market settlements, initial margin models, and default management processes.
Categories: Clearing Services, Regulation, Risk Management

January 2, 2019
OCC Continues to Fulfill its Role as a SIFMU
By John Davidson, OCC Chief Executive Officer
Throughout 2018, OCC operated in a robust and resilient manner, clearing over 20 million contracts a day for our highest ever annual cleared volume, while providing the U.S. equity options and futures markets with unparalleled financial integrity.
Categories: Clearing Services, Company Updates, Compliance, Market Efficiencies, Risk Management