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OCC Congratulates Powell on Confirmation as Fed Chair

CHICAGO (January 24, 2018) – OCC, the world's largest equity derivatives clearing organization, today congratulated Jerome Powell upon his confirmation by the U.S. Senate to be Chairman of the Federal Reserve.

"OCC congratulates Jerome Powell on his confirmation as Fed Chair, and we look forward to working with him and the members and staff of the Federal Reserve on the key issues related to strengthening the level of confidence by investors and market participants in the U.S. financial markets,” said Craig Donohue, OCC Executive Chairman and CEO.

"Risk permeates every aspect of the global economy. Centrally-cleared, exchange-traded derivatives markets provide a secure marketplace for investors seeking to manage those risks. In its role as a Systemically Important Financial Market Utility, OCC is committed to ensuring that these markets remain robust, and that the regulation of these markets fosters their important benefits of transparency, fairness, and resilience without creating competitive disadvantages."

About OCC

OCC is the world's largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2016 Clearinghouse of the Year - The Americas by FOW Magazine and 2016 Clearinghouse of the Year by Global Investor/ISF Magazine, OCC now provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.