Chicago -
OCC, the world's largest equity derivatives clearing organization, today announced the payment of a refund to clearing members under its approved capital plan. The refund of $78.7 million to clearing members was paid on September 14, 2018.
OCC President and Chief Operating Officer John Davidson said, "This action taken under our approved capital plan is consistent with the operative fee, refund and dividend policies approved by the SEC and which align with regulatory expectations. This also ensures OCC has the amount of capital necessary to comply with existing and proposed capital requirements, which enables us to provide the risk management and operational capabilities expected of a systemically important financial market utility."