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The Options Clearing Corporation Announces Michael Walinskas Will Take Over Leadership Of Risk Management

CHICAGO, January 4, 2007 - The Options Clearing Corporation (OCC) announced today the promotion of Michael Walinskas to Senior Vice President, Risk Management and Membership.

Through this promotion, Walinskas assumes responsibility for managing two of the most critical areas of OCC—risk management and membership. OCC's history of excellence in these core areas helped it become the first clearinghouse to receive a 'AAA' rating from Standard & Poor's in 1993, and every year since.

Walinskas joined OCC in 1999 as an attorney and lobbyist in Washington, D.C. In 2001 he moved to Chicago to lead OCC's business development efforts and has progressively taken on additional challenges and responsibilities over the last several years.

"Throughout his career at OCC, Mike has been very successful at managing a wide range of responsibilities," said Michael Cahill, OCC President and Chief Operating Officer. "We are extremely pleased to announce Mike's promotion to lead these key OCC functions."

Walinskas will continue his participation on several national and international industry committees, but not his role with the Options Industry Council. Susan Milligan, Senior Vice President and Special Counsel, Government Relations, will take on his role as Executive Director of OIC, and assume responsibility for OCC Corporate Communications. She will additionally direct OCC's Strategic Planning.

Walinskas' Business Development duties will be assumed by First Vice President Carolyn Mitchell, in addition to her responsibilities for Internet Services and Procurement.

Prior to joining OCC, Walinskas served on the staff of the Securities and Exchange Commission (SEC), most recently as an Associate Director in the SEC's Division of Market Regulation.

About OCC

OCC, founded in 1973, is the world's largest derivatives clearing organization and was the first clearinghouse to receive a 'AAA' credit rating from Standard & Poor's Corporation. Operating under the jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission, OCC provides clearing and settlement services for the American Stock Exchange, the Boston Options Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, OneChicago, NYSE Arca, Philadelphia Stock Exchange and Philadelphia Board of Trade. More information about OCC is available through its Web site at