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OCC Announces Highest Clearing Refund Ever For 2008

CHICAGO, March 10, 2009 - The Options Clearing Corporation (OCC) announced today that its Board of Directors recently approved a record refund of $64,651,112 to Clearing Members for the year ended Dec. 31, 2008.

Since 2003, OCC has refunded all revenues in excess of operational expenses. For the years ended Dec. 31, 2007, 2006 and 2005 those refund amounts were $58.7 million, $45.2 million and $49.7 million, respectively. Since 1974 OCC's cumulative refunds and discounts total more than $1 billion.

The effective rate of 1.55 cents per contract is the lowest net cost per contract in OCC's history. This is lower than the 2007 net cost of 1.7 cents per contract and the 2006 net cost of 2.6 cents per contract.

"During a year of historic volume of options trading—a record-breaking 3.6 billion contracts—OCC held the line on costs with our lowest fee ever," said Michael E. Cahill, OCC President and Chief Operating Officer. "We are pleased to be able to continue providing our members with the best clearing, settlement and risk management services and the lowest costs."

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 Boston Options Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, NASDAQ Options Market, NASDAQ OMX PHLX, NYSE Amex Options, NYSE Arca, OneChicago and Philadelphia Board of Trade. More information about OCC is available through its Web site at www.optionsclearing.com.