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The Options Clearing Corporation Announces Total Contract Volume in February Increased 35%

CHICAGO (March 1, 2011) - The Options Clearing Corporation (OCC) announced today that total OCC cleared volume in February reached 357,275,834 contracts. This represents a 35 percent increase over the February 2010 volume of 264,435,951 contracts. OCC year-to-date total contract volume is up 28 percent from 2010 with 738,833,911 contracts.

Options: Exchange-listed options trading in the U.S for the month of February was up 35 percent over February 2010. February is typically one of the lower trading volume months of the year, but February 2011 is the eighth highest monthly volume on record. Year-to-date average daily contract volume for equity options is up 27 percent from 2010 with 17,609,178 contracts.

Futures: Futures cleared by OCC in February rose to 3,061,598, a 53 percent increase over February of last year. Equity futures volume reached 177,910 contracts in February, a 40 percent decrease over the same month last year where were 296,470 contracts were traded. Index and other futures volume came in at 2,883,439 this month and show a year-to-date average of 148,580 daily contracts.

Securities Lending: OCC's stock loan program, including OTC and AQS, saw a 67 percent increase in new loan activity over February 2010 with 64,098 new loan transactions in February. Year-to-date securities lending activity is up 76 percent from 2010 with 136,592 new loan transactions in 2011. OCC's stock loan program had an average daily notional value of $12,411,274,208.

 
Feb 2011 Total Contract Volume
Feb 2010 Total Contract Volume
Feb Total Contract % Change vs. 2010
YTD. Avg. Daily Contract 2011
YTD. Avg. Daily Contract 2010
Avg. Daily Contract % Change vs. 2010
Equity Options
331,962,409
239,922,344
38%
17,609,178
13,917,417
27%
Index Options
22,251,827
22,511,881
-1%
1,177,867
1,187,735
-1%
Total Options
354,214,236
262,434,225
35%
18,787,044
15,105,152
24%
Equity Futures
177,910
296,470
-40%
8,822
17,411
-49%
Index / Other Futures
2,883,439
1,704,815
69%
148,580
87,271
70%
OOF
249
441
-44%
13
31
-58%
Total Futures
3,061,598
2,001,726
53%
157,415
104,712
50%
Total Volume
357,275,834
264,435,951
35%
18,944,459
15,209,864
25%

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 15 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.