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OCC Declares Nearly $80 Million Clearing Member Refund for 2017

CHICAGO (March 1, 2018) – OCC, the world's largest equity derivatives clearing organization, today announced the declaration of a nearly $80 million refund to clearing members under its approved capital plan. This is the second largest clearing member refund made by OCC since the inception of its capital plan.

The 2017 regular refund is approximately $53.0 million. OCC also announced a special refund of 2017 clearing fees of approximately $25.7 million, which represents the excess of 2017 pre-tax net income over OCC's target revenue based on achievement of a 25 percent business risk buffer as required under the capital plan. Payment of the total 2017 refund will be made as one payment in the third quarter of 2018.

"Our actions taken under the approved capital plan are consistent with the operative fee and refund policies approved by the SEC and align with regulatory expectations," said Craig Donohue, OCC Executive Chairman and CEO. "It will also ensure OCC has the amount of capital needed to comply with existing and proposed capital requirements."

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