2017 Press Releases
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Chicago, April 28, 2017
OCC Approves Member and Public Directors at 2017 Shareholders Meeting
OCC, the worlds largest equity derivatives clearing organization, today announced the election of three Class I Member Directors and one Class II Public Director to its Board of Directors.
Chicago, April 17, 2017
Congressman Thomas Reed to Speak at 2017 Options Industry Conference
OCC, the world's largest equity derivatives clearing organization, today announced that Congressman Thomas Reed (R-NY 23rd District) will be a featured speaker on May 10th at the 2017 Options Industry Conference. Congressman Reed and OCC Executive Chairman and CEO Craig Donohue will have a "fireside chat" about the outlook for Congressional action in 2017 and significant items on the Hill's agenda as they relate to the U.S. listed equity options industry.
Chicago, April 17, 2017
OCC Names David Hoag as Chief Information Officer
OCC, the world's largest equity derivatives clearing organization, today announced that David Hoag, a technology executive with nearly 25 years of information systems and development experience, will join OCC as Senior Vice President and Chief Information Officer, effective May 1st. Hoag, who will report to John Davidson, OCC's new President and Chief Operating Officer, succeeds Luke Moranda, who becomes Senior Vice President and Senior Information Technology Advisor to the President and COO.
Chicago, April 10, 2017
OCC Names Former BNY Mellon Executive David Ridgway as Senior Vice President, Enterprise Risk Management
OCC, the world's largest equity derivatives clearing organization, today announced the appointment of David Ridgway, a former senior risk management executive with BNY Mellon, as Senior Vice President, Enterprise Risk Management. Ridgway reports to John Fennell, Executive Vice President and Chief Risk Officer.
Chicago, April 3, 2017
OCC Cleared Contract Volume Up Nine Percent in March
OCC Cleared OCC, the world's largest equity derivatives clearing organization, announced today that total cleared contract volume in March reached 386,877,373 contracts, a nine percent increase from March 2016. This was the highest level of options volume cleared in March by OCC in the last five years. OCC's year-to-date volume is down one percent with 1,058,670,212 cleared contracts in the first quarter of 2017, compared to 1,064,617,055 contracts in the first quarter of 2016.
Chicago, April 3, 2017
Davidson Joins OCC as President and Chief Operating Officer
OCC, the world's largest equity derivatives clearing organization, today announced that John P. Davidson, a long-time senior executive with more than 35 years of experience in the global financial services industry, has agreed to join the organization as President and Chief Operating Officer, effective May 8th. Davidson will report to OCC Chairman and CEO Craig Donohue, and he replaces Michael McClain, Chief Operating Officer, who left OCC on March 31st for personal reasons.
Chicago, March 30, 2017
OIC Launches New Digital Education Advertising Campaign
The Options Industry Council (OIC), the leading provider of unbiased options education, today introduced its new digital advertising campaign, "The Next Great Investing Adventure." This campaign supports OIC's mission of educating individual investors, their financial advisors and the general public about the prudent and responsible use of exchange-listed equity options.
Chicago, March 29, 2017
OCC Appoints Two New Members to Board of Directors
OCC, the world's largest equity derivatives clearing organization, today announced that Andrej Bolkovic, CEO of ABN AMRO Clearing Chicago LLC, and Jamil Nazarali, Head of Execution Services at Citadel Securities, have joined the board of directors as Member Directors. Bolkovic was appointed to fill a vacancy for a term ending in 2017 created by the departure of John Ruth, and also was nominated for election this year. Nazarali was appointed to fill a vacancy created by the departure of George S. Fischer with a term ending in 2018.
Chicago, March 28, 2017
OCC Declares Clearing Member Refund and Dividend for 2016
OCC, the world's largest equity derivatives clearing organization, today announced the declaration of a refund and dividend under its approved capital plan. The refund of approximately $46.6 million to clearing members and the dividend of approximately $25.6 million to Stockholder Exchanges will be paid sometime in the third quarter of 2017.
Chicago, March 8, 2017
Long-Time Options Industry Leader Gina McFadden is First Woman to Receive 2017 Sullivan Award
OCC, The Options Industry Council (OIC) today announced that Gina McFadden, a long-time leader in the U.S. listed equity options industry, will be the first woman to receive the 2017 Joseph W. Sullivan Options Industry Achievement Award. This award is given to individuals in recognition of outstanding contributions to the U.S. options industry. The award will be presented at the 35th Annual Options Industry Conference on May 12 in Scottsdale, Arizona.
Chicago, March 1, 2017
OCC Announces Cleared Contract Volume Down One Percent In February
OCC, the world's largest equity derivatives clearing organization, announced today that total cleared contract volume in February was 333,411,251 contracts, down one percent from February 2016 volume of 338,300,969 contracts. OCC's year-to-date average daily cleared contract volume is down five percent from 2016 with 17,225,457 contracts.
Chicago, February 7, 2017
OCC Welcomes MIAX PEARL Options Exchange
OCC, the world's largest equity derivatives clearing organization, today congratulated MIAX on the launch of MIAX PEARL, which began operations on Monday. This successful launch brings the total number of U.S. options markets to fifteen.
Chicago, February 1, 2017
OCC Announces Total Cleared Contract Volume Down Nine Percent In January
OCC, the world's largest equity derivatives clearing organization, announced today that total cleared contract volume in January was down nine percent from January 2016 with 338,381,588 contracts. Average daily volume at OCC was down 14 percent from January 2016 with 16,919,079 contracts. OCC's stock loan program reported strong volume numbers in January with year-to-date activity up 32 percent.
Chicago, January 3, 2017
OCC 2016 Cleared Contract Volume Fifth Highest Ever
OCC, the world's largest equity derivatives clearing organization, today announced 2016 total cleared contract volume reached 4,167,747,777 contracts, a one percent decrease from the 2015 volume of 4,210,542,258 contracts. The year ended with 337,076,118 cleared contracts in December, a three percent decrease from December 2015. OCC also reported record-breaking volume for cleared futures, with 104,523,581 cleared contracts in 2016; a 56 percent increase from 2015.