OCC, the world's largest equity derivatives clearing organization, announced the election of three Class II Member Directors and two Class III Public Directors to its Board of Directors. In addition, Mr. Craig S. Donohue was re-elected as Executive Chairman of the Board. The vote took place during OCC’s annual stockholder meeting on April 14.
The following Directors were unanimously elected as Class II Member Directors:
- Maria Chiodi, Managing Director, General Counsel Department at Credit Suisse Securities, LLC. Ms. Chiodi joined the OCC Board of Directors in 2019. Her term expires in 2024.
- Thomas A. Frank, Executive Vice President & CIO, Interactive Brokers, LLC. Mr. Frank joined the OCC Board of Directors in 2015. His term expires in 2024.
- Stephen Luparello, General Counsel, Citadel Securities. Mr. Luparello joined the OCC Board of Directors in 2017. His term expires in 2024.
The following Directors were unanimously elected as Class III Public Directors:
- Thomas R. Cardello, Founding Member, Venice Financial Management, LLC. Mr. Cardello joined the OCC Board of Directors in 2015. His term expires in 2024.
- Alice Patricia White, Economist. Ms. White joined the OCC Board of Directors in 2012. Her term expires in 2024.
"We greatly value the contributions, insights, and guidance that these five knowledgeable industry experts provide to OCC,” said Craig Donohue, OCC Executive Chairman. “We are pleased that we will continue to benefit from their counsel and leadership as we further enhance our capabilities to best serve the markets and the investing public.”
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2020 Best Clearing House - Equities by Markets Media for the third consecutive year, OCC now provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms for options, financial futures, and securities lending transactions. More information about OCC is available at www.theocc.com.