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OCC Announces Total Contract Volume In February Grew 3%

CHICAGO (March 2, 2010) The Options Clearing Corporation (OCC) announced today that total OCC volume reached 264,435,951 contracts in February. This represents a 3 percent increase over the February 2009 volume of 256,464,343 contracts. OCC year to date total volume is up 12% from 2009, coming in at 577,974,825 contracts.

Options: Exchange-listed options trading in the U.S for the month of February was up 2% from the previous year. Index options trading rose 28% higher than the previous February with 22,511,881 contracts. Expansion of OCC's options clearing business continues to grow as BATS Options recently joined OCC's participant exchanges.

Futures: Futures cleared by OCC in February rose to 2,001,726 from 165,392 in February 2009. This increase is due to the addition of new futures exchanges just coming online with OCC early last year. Equity futures had an increase of 139% over the same month last year.

Securities Lending: OCC's stock loan program, including OTC and AQS, saw an average daily notional value of $13,481,461,210, a 1 percent increase from January. As OCC expanded its stock loan program last year, it also changed the program measurement process. Therefore, precise year-on-year data will not be available until mid-year. However, the past year has seen a noticeable trend toward increasing average daily stock loan transactions.

 

Feb. 2010 Total Contract Volume
Feb. 2009 Total Contract Volume
Feb. Total Contract % Change vs. 2009
YTD. Avg. Daily Contract 2010
YTD. Avg. Daily Contract 2009
Avg. Daily Contract % Change vs. 2009
Equity Options
239,922,344
238,866,795
0.44%
13,917,417
12,265,551
13%
Index Options
22,511,881
17,597,548
28%
1,187,735
921,060
29%
Total Options
262,434,225
256,464,343
2%
15,105,152
13,186,611
15%
Equity Futures
296,470
124,132
139%
17,411
7,121
145%
Index/Other Futures
1,704,815
41,260
4032%
87,271
2,120
4017%
Options on Futures
441
0
NA
31
0
NA
Total Futures
2,001,726
165,392
1110%
104,712
9,241
1033%

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 14 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.