Nov. 03, 2023
OCC’s Dallas Office Receives 2023 Best Place for Working Parents® Designation
OCC is proud to share that in 2023, our Dallas office has earned the Best Place for Working Parents ® business designation for the third consecutive year in recognition of our family-friendly policies and practices. Fostering a culture of inclusion, belonging and trust inclusive for working parents and all colleagues is part of OCC’s #WeAreOCC value and ensures OCC continues to attract, retain and develop talent with a wide range of backgrounds and perspectives. “This designation speaks to OCC’s commitment to enabling working parents to thrive in our workplace. Our Dallas colleagues are...
Nov. 02, 2023
OCC Reports October 2023 Monthly Volume Data
OCC, the world's largest equity derivatives clearing organization, announced today that year-to-date average daily volume through October 2023 was 44.4 million contracts. Total monthly volume for October 2023 was 988.3 million contracts. Contract Volume October 2023 Contracts October 2022 Contracts % Change 2023 YTD ADV 2022 YTD ADV % Change Equity Options 421,003,628 463,207,318 -9.1 % 22,422,247 22,228,728 0.9% ETF Options 460,183,935 366,441,198 25.6% 17,966,962 15,821,900 13.6% Index Options 100,730,846 76,013,263 32.5% 3,802,403 2,793,522 36.1% Total Options 981,918,409 905,661,779 8...
Oct. 26, 2023
Meet Our Chief Audit Executive, Hugo Mugica
Experience : 20+ years of leadership experience in internal audit and financial services Joined OCC in 2015 as Vice President, Internal Audit Clearing and Risk Previously served as Senior Manager Internal Audit at William Blair & Company and Peak6 Investments, and as Manager Internal Audit at CME Group Education : Bachelor’s degree in industrial engineering from Universidad Panamericana Master’s degree in finance from DePaul University Quick Facts : Holds the Series 7 license and is a Certified Internal Auditor® (CIA®) Hobbies include golf and swimming Quote “Our internal audit team...
Oct. 24, 2023
Risk.net: OCC sees cloud-based future for clearing
In a fireside chat at Risk Live North America, OCC’s Chief Risk Officer Vishal Thakkar spoke with Risk editor Kris Devasabai about risk management in the options market and OCC’s ongoing cloud migration. As the first systemically important financial market utility (SIFMU) to seek a regulatory no-objection to move core systems to the cloud, Vishal described our collaboration with our regulators to develop a plan to manage our forthcoming clearing platform, Ovation, in a cloud environment while continuing to fulfill OCC’s critical SIFMU duties. Read a recap of his session on Risk’s website.
Oct. 17, 2023
New and approved: OCC lines up for future investment
Earlier this year, OCC received regulatory approval to update our clearing membership criteria allowing banks to apply for membership. OCC's Oberon Knapp, Head of Securities Lending, and Sheila Zak, Executive Director of Member Services, spoke with Securities Finance Times reporter Carmella Haswell about the changes and other enhancements in the works. The article appeared in SFT's magazine for The Risk Management Association's 38th annual Securities Finance & Collateral Management Conference. Read it here.
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