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OCC Announces Total Contract Volume in July Down 9% as Year-to-Date Average Daily Volume Rose 9%

CHICAGO (August 2, 2010) The Options Clearing Corporation (OCC) announced today that total OCC cleared volume in July reached 279,245,228 contracts, representing a 9% decrease over the July 2009 volume of 307,085,331 contracts. However, average daily volume for 2010 is 15,816,927 contracts, a 9% increase compared to last year's average of 14,552,341 contracts. OCC's year-to-date total volume is up 8% with 2,293,454,442 contracts.

Options: Exchange-listed options trading volume reached 277,370,315 contracts in July, a 9% decrease from July 2009. Index options trading rose 1% from the previous July. Year-to-date average daily contract volume for exchange-listed options was up 8% compared to the same period last year.

Futures: Futures cleared by OCC in July rose to 1,874,913 contracts with a year-to-date average daily contract volume of 104,876. Equity futures volume reached 599,564 contracts, a 99% increase over the same month last year when 301,574 were traded. Index and other futures volume came in at 1,274,969 this month and show a year-to-date average of 82,844 daily contracts.

Securities Lending: OCC's stock loan program, including OTC and AQS, saw a 74% increase in new loan activity over July 2009 with 54,659 new loan transactions in July. Year-to-date securities lending activity is up 58% from 2009 with 340,426 new loan transactions in 2010. OCC's stock loan program had an average daily notional value of $11,017,669,194 in July.

 
July 2010 Total Contract Volume
July 2009 Total Contract Volume
July Total Contract % Change vs. 2009
YTD. Avg. Daily Contract 2010
YTD. Avg. Daily Contract 2009
Avg. Daily Contract % Change vs. 2009
Equity Options
257,060,882
285,749,752
-10%
14,483,266
13,580,671
7%
Index Options
20,309,433
20,022,412
1%
1,228,785
947,332
30%
Total Options
277,370,315
305,772,164
-9%
15,712,051
14,528,002
8%
Equity Futures
599,564
301,574
99%
22,009
8,968
145%
Index / Other Futures
1,274,969
1,010,600
26%
82,844
15,353
440%
Options on Futures
380
883
-57%
23
19
21%
Total Futures
1,874,913
1,313,167
43%
104,876
24,339
331%
Total Volume
279,245,228
307,085,331
-9%
15,816,927
14,552,341
9%

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.