OCC, the world's largest equity derivatives clearing organization, today announced two new members of its Board of Directors: Mike Nowak, Chief Financial Officer at ABN AMRO Clearing Chicago LLC (AACC), and Rob Hocking, Senior Vice President, Head of Multi-Asset Solutions and Derivatives Strategy for Cboe Global Markets.
"Adding Mike and Rob to OCC’s Board of Directors further strengthens our resiliency and our ability to ensure confidence in the financial markets," said Craig Donohue, OCC Executive Chairman. "Their invaluable experience and insight will support our continued efforts to bring operational excellence, growth and innovation to our participant exchanges, clearing member firms and the broader economy."
As Chief Financial Officer for AACC, Nowak oversees day-to-day management of liquidity, capital, balance sheet and regulatory reporting. Now a 20-year industry veteran, Nowak started his career with O’Connor & Company on the agricultural trading floor of the Chicago Board of Trade, and he then transitioned to a commodities broker with Fortis Clearing Americas LLC (formerly O’Connor & Company). He was later appointed as Chief Operations Officer following multiple roles in operations. Nowak has also been involved in several committees and working groups with DTC, FINRA, CME, FIA and other organizations.
Hocking leads the strategic vision for Cboe Global Markets’ derivatives ecosystem as Senior Vice President, Head of Multi-Asset Solutions and Derivatives Strategy. Managing Cboe’s product innovation arm, he oversees the team focused on the proprietary product franchise; derivatives microstructure; and next-generation risk-transfer products, tools and education. He was previously a Cboe Options Exchange member and trading permit holder for more than 18 years. Prior to joining Cboe, he was Global Head of Equity Volatility Trading at DRW Trading in Chicago.
Nowak and Hocking fill vacancies left in May and July 2021, respectively.
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms. More information about OCC is available at www.theocc.com.