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OCC Half Year Volume Reaches 2 Billion Contracts

CHICAGO (July 1, 2010) The Options Clearing Corporation announced today that 2,014,209,214 total options contracts changed hands in the first half of 2010 representing an 11% percent increase over the first half of 2009. Total OCC volume for June came in at 311,231,916 contracts, a 2% decrease from June of last year when 316,348,912 contracts traded. This is the first time OCC cleared volume has reached 2 billion contracts at the half year mark, and follows closely on the first time full-year volume hit 2 billion contracts in 2006.

Options: Exchange-listed options trading decreased 2% from June 2009. Index options trading rose 20% from the previous June. Year to date average daily volume for exchange listed equity options was up 13%.

Futures: Futures cleared by OCC in June continued to rise as 1,969,050 contracts were cleared, more than double the June 2009 figure, while year-to-date average daily contract volume is 107,517 Equity futures trading rose 52% with 459,640 contracts. OCC has cleared 13,332,096 million futures contracts in the first half of 2010.

Securities Lending: OCC's stock loan program, including OTC and AQS, saw a 90% increase in new loan activity over June 2009 with 60,725 new loan transactions in June. Year to date securities lending activity is up 56% from 2009 with 285,767 new loan transactions in the first half of 2010. OCC’s stock loan program had an average daily notional value of $11,685,154,788 in June.

 
June 2010 Total Contract Volume
June 2009 Total Contract Volume
June Total Contract % Change vs. 2009
YTD. Avg. Daily Contract 2010
YTD. Avg. Daily Contract 2009
Avg. Daily Contract % Change vs. 2009
Equity Options
282,302,365
295,713,821
-4%
14,863,006
13,685,711
9%
Index Options
23,960,601
19,942,240
20%
1,273,100
953,936
33%
Total Options
309,262,866
315,656,061
-2%
16,136,106
14,639,647
13%
Equity Futures
459,640
302,844
52%
20,901
8,126
157%
Index / Other Futures
1,509,034
389,396
288%
86,592
9,926
772%
Options on Futures
376
611
-38%
24
14
71%
Total Futures
1,969,050
692,851
184%
107,517
18,066
495%
Total Volume
311,231,916
316,348,912
-2%
16,243,623
14,657,713
11%

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.