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OCC Appoints Three New Members to Board of Directors

CHICAGO (May 27, 2015) - In its role as the foundation for secure markets, OCC, the world's largest equity derivatives clearing organization, today announced that George S. Fischer, Thomas A. Frank, and Eric W. Noll have joined its board of directors as Member Directors. Fischer and Frank were elected to terms ending in 2018, while Noll was appointed to fill a vacancy with a term ending in 2017.

George S. Fischer
With over 12 years of experience delivering trading products and digital solutions to investors, Fischer currently serves as the Senior Vice President of Trading, Margin Lending and Cash Management for E*Trade Financial. Prior to joining E*Trade, Fischer founded the telecommunication software company NetAdvantage, and held management consulting roles with Navigant Consulting. Fischer holds series 3, 4, 7, 24, 34 and 63 licenses. He has a B.S. in Engineering and a B.S. in Government & International Studies from the University of Notre Dame.

Thomas A. Frank
A technology leader with extensive risk management expertise, Frank has been Executive Vice President and Chief Information Officer for Interactive Brokers since 1999, where he has been a driver of strategic value in building tools to make trading simpler, visual and automated. He joined Timber Hill Inc. in 1985 where he was in charge of software development for automated pricing, risk management and trading systems. He pioneered the adoption of hand-held computers on trading floors, fully electronic trading systems and the delivery of high end trading tools to a broad spectrum of traders and investors. Frank has an S.B. degree and a Ph.D. in Physics from Massachusetts Institute of Technology.

Eric W. Noll
An experienced industry leader with an extensive background in equity derivatives, Noll joined Convergex Group, an agency-focused global brokerage and trading-related services provider, as President in 2013, and also became Chief Executive Officer in 2014. Convergex's diverse range of products and services includes options execution and access to clearing solutions for its institutional investor client base. Previously, Noll was Executive Vice President of Transaction Services at NASDAQ OMX, Inc. in the U.S. and U.K., from 2009 to 2013. He also has held senior management positions at Susquehanna International Group, the Philadelphia Stock Exchange, and the Chicago Board Options Exchange. Noll graduated from Franklin and Marshall College with a B.A. degree in government and economics and holds an M.B.A. in finance from the Owen Graduate School of Management at Vanderbilt University.

"OCC is transforming itself in the midst of a rapidly evolving marketplace," said Craig Donohue, Executive Chairman of OCC. "The addition of George Fischer, Thomas Frank and Eric Noll to our board of directors supports our mission to provide exceptional risk management and innovative solutions to reduce systemic risk while operating as an at-cost utility."

About OCC

OCC is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a Registered Clearing Agency, and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. OCC now provides central counterparty (CCP) clearing and settlement services to 16 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at