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OCC Announces the Promotion of James Knoeck to Senior Vice President - Chief Audit Executive

CHICAGO (July 11, 2013) - OCC announced today that James Knoeck has been promoted to Senior Vice President - Chief Audit Executive. Mr. Knoeck joined OCC in September as Vice President – Head of Internal Audit from the State of Wisconsin Investment Board.

During his time at OCC he led the restructuring of the internal audit department, necessitated by OCC's designation as a Systemically Important Financial Market Utility (SIFMU). Prior to joining OCC, Mr. Knoeck served as the Internal Audit Director for the State of Wisconsin Investment Board where he established policies for risk based audit activities. His prior experience also includes managing outside audit consultants in facilitating audit plans and performing operational, market, legal, compliance and financial risk assessments at organizations such as KPMG and the Chicago Mercantile Exchange.

"We are pleased to announce the promotion of Jim to Senior Vice President – Chief Audit Executive," said Wayne P. Luthringshausen, OCC Chairman and CEO. "In the short time Jim has been with OCC he has been instrumental in the streamlining and expansion of the internal audit department to meet and exceed the requirements of OCC's SIFMU designation. His comprehensive knowledge of accounting and back office services is a fitting complement to his new role at OCC," he added.

As Senior Vice President – Chief Audit Executive, Mr. Knoeck will continue to lead the internal audit function and report to the Chairman and the Audit Committee Chair of the Board of Directors.

Mr. Knoeck received his Bachelor of Business Administration degree with a double major in Accounting and Finance from the University of Wisconsin in Madison.

About OCC

OCC is the world's largest equity derivatives clearing organization. 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 17 exchanges and trading platforms for options, financial and commodity futures, security futures and securities lending transactions. More information about OCC is available at