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2017 Press Releases

OCC is the foundation for secure markets. The OCC Newsroom contains our latest news, press releases, speeches, comment letters and media information. You can stay up-to-date with options news and market data by subscribing at the OCC Subscription Center.

Chicago, July 11, 2017
OCC Cleared Contract Volume Up Two Percent in June
OCC, the world's largest equity derivatives clearing organization, announced today that cleared contract volume in June reached 387,597,223 contracts, a two percent increase from the June 2016 volume of 378,908,938 contracts. OCC's year-to-date average daily cleared contract volume was also up two percent from 2016 with 17,174,603 contracts. Cleared futures volume was up 16 percent in June with 13,194,530 contracts, and securities lending CCP activity was up 27 percent over June 2016 with 1,142,708 new loan transactions.

Chicago, June 28, 2017
Amy McCormick Appointed First Vice President of Financial Risk Management
OCC, the world's largest equity derivatives clearing organization, today announced the appointment of Amy McCormick, formerly with the National Futures Association, as First Vice President, Financial Risk Management, a new position for the organization. McCormick starts in her new role today, and will report to Dale Michaels, Executive Vice President, Financial Risk Management.

Chicago, June 1, 2017
OCC Cleared Contract Volume Up 19 Percent in May
OCC, the world's largest equity derivatives clearing organization, announced that cleared contract volume in May reached 380,010,098 contracts, a 19 percent increase from the May 2016 volume of 319,533,636 contracts. OCC's year-to-date average daily cleared contract volume is also up two percent from 2016 with 17,079,885 contracts.

Chicago, May 11, 2017
Cerulli Study Says Financial Advisors Who Currently Use Options Expect to Increase Use of Options by 30 Percent in Three Years
The Options Industry Council (OIC), an industry resource funded by OCC and the U.S. options exchanges, today announced the results of a study, How Financial Advisors Use and Think About Exchange-Listed Options, which found that approximately one-third of financial advisors currently use options in 20 percent of client portfolios, and that usage is expected to increase by 30 percent in the next three years. The goal of the study, conducted by Cerulli Associates, a global research and consulting firm specializing in asset management and distribution trends worldwide, is to identify target audiences and educational strategies for the OIC that may lead to increased adoption of exchange-listed options strategies among financial advisors.

Chicago, May 9, 2017
OCC Announces Robert Bodnar Joins Options Industry Council Roundtable
OCC, the world's largest equity derivatives clearing organization and a leading provider of options education content through The Options Industry Council (OIC), today announced that Robert Bodnar, Executive Director at Morgan Stanley, has joined the OIC Roundtable. The OIC Roundtable is the independent governing body of the OIC, and is comprised of representatives from the options exchanges, member brokerage firms, and OCC.

New York/Chicago, May 5, 2017
OCC and EquiLend Clearing Services Partner on CCP Securities Lending
OCC (Options Clearing Corporation), the world's largest equity derivatives clearing organization, and EquiLend Clearing Services (ECS), the global securities finance trading platform and technology provider, have joined forces to bring greater access to central counterparty clearing in the securities finance marketplace.

Chicago, May 3, 2017
OCC Congratulates Clayton on Confirmation as SEC Chairman, Looks Forward to Working with Him
OCC, the world’s largest equity derivatives clearing organization, today congratulated Jay Clayton upon his confirmation by the U.S. Senate as Chairman of the U.S. Securities and Exchange Commission (SEC).

Chicago, May 1, 2017
OCC Cleared Contract Volume Down Six Percent in April
OCC, the world's largest equity derivatives clearing organization, announced today that cleared contract volume in April was 320,547,848 contracts, down six percent from April 2016 monthly volume of 339,522,257 contracts. Average daily volume at OCC is down one percent in 2017 with 17,027,383 contracts. OCC's stock loan program reported strong volume numbers with April activity up seven percent and year-to-date activity up 17 percent.

Chicago, May 1, 2017
OCC Names former State Street and Department of Defense Information Security Officer as Chief Security Officer
OCC, the world's largest equity derivatives clearing organization, today announced the appointment of Mark Morrison, formerly with State Street Corporation and several government defense and security agencies, as Senior Vice President and Chief Security Officer, a new position. Morrison will report to John Fennell, Executive Vice President and Chief Risk Officer.

Chicago, April 28, 2017
OCC Approves Member and Public Directors at 2017 Shareholders Meeting
OCC, the world’s 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.