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.

The OCC Announces Its Busiest Year Ever

CHICAGO (January 5, 2010) The Options Clearing Corporation (OCC) announced today that 2009 was the busiest year in the 36-year history of the clearinghouse with record levels of options trading and major expansions of its futures and stock loan services.

Options: Exchange-listed options trading in the U.S., OCC’s core business, achieved its seventh consecutive record year in 2009. Investors returning to the marketplace looked to options to manage their risk after the financial crisis, lifting trading 0.8 percent than 2008, despite earlier predictions of declines.

Futures: The addition of two new futures exchanges brought OCC’s futures clearing to its highest volume level, about 140 percent higher than 2008, and 34 percent higher than the previous peak recorded in 2007.

Securities Lending: OCC expanded its stock loan program in 2009 and began operating as the central counterparty for the AQS platform. The year ended with a stock loan contract notional value of $16,046,138,414.

 

Avg. Daily Contract 2009
Avg. Daily Contract 2008
Daily Contract Avg % Change vs. 2008
Total Contract Volume 2009
Total Contract Volume 2008
Total Contract % Change vs. 2008
Equity Options
13,360,981
12,983,246
2.91%
3,366,967,321
3,284,761,.345
2.50%
Index Options
974,880
1,177,120
-17.18%
245,669,797
297,811,236
-17.51%
Total Options
14,335,861
14,160,365
1.24%
3,612,637,118
3,582,572,581
0.84%
Equity Futures
11,835
15,859
-25.37%
2,982,340
4,012,281
-25.67%
Index/Other Futures
37,284
4,591
712.11%
9,395,595
1,161,456
708.95%
Options on Futures
24
NA
NA
NA
NA
NA
Total Futures
49,143
20,450
140.31%
12,383,935
5,173,737
139.36%
Total Volume
14,385,004
14,180,815
1.44%
3,625,021,053
3,587,746,318
1.04%

About OCC

OCC is the world's largest derivatives clearing organization by contract volume and open interest. Founded in 1973, OCC operates under the jurisdiction of both the Securities and Exchange Commission (SEC) as a Registered Clearing Agency and the Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. OCC now provides central counterparty (CCP) clearing and settlement services to 13 exchanges and platforms for options, financial and commodity futures, security futures and securities lending transactions.

As the CCP clearinghouse for the markets it serves, OCC assumes the counterparty risk of members involved in a trade-becoming the buyer to every seller and the seller to every buyer. OCC manages its risk of member default by collecting margin (collateral). Clearing member margin requirements are calculated using OCC's proprietary System for Theoretical Analysis and Numerical Simulations (STANS) that uses large-scale Monte Carlo simulations to forecast price moves and correlations to make those margin determinations. In 1993, OCC became the first clearinghouse to receive a 'AAA' credit rating from Standard & Poor's Corporation, and has continued to receive that high rating every year as a result of its risk management standards.

OCC operates as a utility clearinghouse, owned by several of its participant exchanges but with a Board of Directors majority drawn from its clearing members, allowing it to provide highly efficient but low-cost solutions to the markets it serves. More information about OCC is available through its Web site at www.optionsclearing.com.