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OCC Announces a Strong Start to 2010

CHICAGO (February 2, 2010) The Options Clearing Corporation (OCC) announced a significant increase in trading volume to start off 2010. Total OCC contract volume for January was up 22% from January 2009, averaging 16,502,046 contracts per day.

Options: Exchange-listed options trading in the U.S. rose 21% higher than the previous January. A strong start after a record year, January 2010 is now the second highest January on record for total options volume.

Futures: Expansion of OCC's futures clearing business continues to grow as futures cleared by OCC totaled 1,977,333 in Jan, 914% higher than the same month last year.

Securities Lending: January 2010 marks the one year anniversary of OCC acting as the central counterparty clearinghouse for the AQS platform. OCC's total OTC and AQS stock loan activity ends the month with a stock loan contract notional value of $12,234,089,594, a 2.6% decrease from the previous January.

 

Jan. 2010 Total Contract Volume
Jan. 2009 Total Contract Volume
Jan. Total Contract % Change vs. 2009
YTD. Avg. Daily Contract 2010
YTD. Avg. Daily Contract 2009
Avg. Daily Contract % Change vs. 2009
Equity Options
288,939,483
239,489,712
21%
15,207,341
11,974,486
27%
Index Options
22,622,058
18,323,801
23%
1,190,635
916,190
30%
Total Options
311,561,541
257,813,513
21%
16,397,976
12,890,675
27%
Equity Futures
365,142
153,584
138%
19,218
7,679
150%
Index/Other Futures
1,611,472
41,412
3791%
84,814
2,071
3995%
Options on Futures
719
0
NA
38
0
NA
Total Futures
1,977,333
194,996
914%
104,070
9,750
967%
Total Volume
313,538,874
258,008,509
22%
16,502,046
12,900,425
28%

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.