User acknowledges that it has reviewed the User Agreement and the Privacy Policy governing this site, and that continued use constitutes acceptance of the terms and conditions stated therein.

2003 Press Releases

Chicago, November 17, 2003
Options Industry Sets New Total Volume Record
The Options Clearing Corporation (OCC) announced today a new annual record for total options volume. The record was reached on Nov. 14 when year-to-date total options volume hit 781,821,162 contracts. This surpasses 2001’s annual record of 781,261,935 total options contracts.

Chicago, November 4, 2003
The Clearing Corporation Announces an Agreement in Principle with the Options Clearing Corporation to Provide Futures Post Trade Management Services
The Clearing Corporation ("CCorp") today announced it has entered into an agreement in principle with The Options Clearing Corporation ("OCC") to provide futures post trade execution services for OCC. The agreement supports futures trading on futures markets that are affiliated with options exchanges for which OCC provides clearing services ("Covered Markets").

Chicago, September 22, 2003
OCC’S Encore Begins Real-Time Processing of PHLX Trades
The Options Clearing Corporation (OCC) today announced that its ENCORE clearing system is now receiving and processing a continuous stream of options trades from the Philadelphia Stock Exchange (PHLX). Previously, PHLX trades were sent in batches and processed at the end of the trading day.

Chicago, July 22, 2003
OCC Announces Officer Promotion
The Options Clearing Corporation (OCC) announced today that Karen Glad, 40, has been promoted to Vice President, Testing and Deployment from Director, Business Development.

Chicago, July 10, 2003
Chicago Financial Institutions Unveil "ChicagoFIRST" Coalition for Homeland Security
At a press conference this morning, representatives of Chicago’s major financial institutions announced the formation of Chicago FIRST, an industry coalition that will address homeland security issues requiring a common response by Chicago’s financial community. Representatives from the U.S. Department of the Treasury (Treasury) and Chicago’s Office of Emergency Management and Communications (OEMC) attended the conference and expressed their support of Chicago FIRST’s initiative.

Chicago, June 24, 2003
OCC’s 2002 "Basic Values" Annual Report Receives "AR100" Recognition
The Options Clearing Corporation announced today that its 2002 annual report, "Basic Values" has been selected by the 18th annual AR100 Show as one of the top 100 annual reports of U.S. companies.

Chicago, June 18, 2003
OCC Announces New First Vice President, Technology Services Group
The Options Clearing Corporation (OCC) announced today that Scott J. Everhart, 42, recently joined the company as First Vice President - Technology Services. Everhart was previously a Director of Global Architecture and Technology with Motorola Inc. He replaces Dave Engaldo, who was recently promoted to First Vice President, Business Continuity.

Chicago, May 14, 2003
OCC Commits to FIXML Standard
The Options Clearing Corporation (OCC) announced today that it has committed to the FIX Protocol Ltd. Association’s FIXML Messaging Standard. FIXML is a version of the FIX industry standard messaging protocol implemented using XML (eXtensible Markup Language). With this adoption, OCC will adhere to industry defined standards for messaging and data elements used in the distribution of clearing information to its clearing members on a real time basis.

Chicago, May 7, 2003
Eurex Requests OCC as Clearinghouse
The Options Clearing Corporation (OCC) confirmed that Eurex has asked OCC to serve as the clearinghouse for a proposed U.S. options market that Eurex is seeking to register with the SEC. OCC is the common clearing organization for all U.S. securities options exchanges. As such, it is required to clear for any SEC-registered options exchange.

Chicago, April 15, 2003
The Options Clearing Corporation Begins Real Time Processing With Pacific Exchange
The Options Clearing Corporation (OCC) today announced that its new clearing system ENCORE, is now processing trades from the Pacific Exchange (PCX) within moments after they occur. PCX is the first exchange to send its trades "real" time.

Chicago, April 8, 2003
The Options Clearing Corporation Advances Towards Straight-Through Processing For Options
Marking a major advancement toward straight-through processing, The Options Clearing Corporation (OCC) today announced that its new clearing system ENCORE, is now accepting for immediate processing trades sent during the day by the Chicago Board Options Exchange (CBOE). It is OCC’s goal to have all of the U.S. options exchanges submitting near real-time trades by the end of this year.

Chicago, January 30, 2003
The Options Clearing Corporation Appoints New CFO, Treasurer
The Options Clearing Corporation (OCC) announced today the promotion of Andrew J. Naughton, 43, to Executive Vice President, Chief Financial Officer (CFO) and Treasurer, effective immediately. Naughton assumes these responsibilities from Michael E. Cahill, OCC President and Chief Operating Officer.

Chicago, January 30, 2003
OCC Appoints Amex Executive To Its Board
The Options Clearing Corporation (OCC) announced today the appointment of Michael J. Ryan, Jr., Executive Vice President and General Counsel, American Stock Exchange® (Amex®), to the OCC Board of Directors. He replaces Joseph B. Stefanelli, Executive Vice President, Derivatives Securities, Amex, who retired from his Board position in December.