Two electronic broker representatives join OCC board
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Two electronic broker representatives join OCC board 24 March 2021US Reporter: Alex Pugh
Image: stock.adobe.com/Oleksandr Dibrova
Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organisation, has added two members to its board to fill recent vacancies.
JJ Kinahan, formerly chief market strategist and managing director of trading and education at TD Ameritrade, and Peter Maragos, who co-founded and ran DASH Financial Technologies as CEO, will take over from board members Andrej Bolkovic and William Yates who left in February 2021 and December 2020, respectively.
Kinahan is a 30-year options industry veteran who oversaw client education and the launch of the TD Ameritrade Network at the online broker.
He also managed TD Ameritrade’s thinkorswim family of platforms and handled the firm’s market structure and client advocacy efforts on Capitol Hill. thinkorswim Group was acquired by TD Ameritrade in 2009, with the latter recently acquired by Charles Schwab.
DASH Financial Technologies founder Maragos set up the multi-asset execution and capital markets technology provider in 2009.
Before DASH, Maragos was CEO of LiquidityPort, an electronic brokerage platform for all NYMEX ClearPort products. Prior to that, Maragos was CEO of SDS Financial Technologies, where he built and operated several over-the-counter market trading platforms.
OCC’s executive chairman Craig Donohue says: "We are pleased that JJ and Peter are adding their expansive industry knowledge and experience to our board of directors.
"As veterans of the US equity options industry, their expertise will support OCC's continued resiliency and innovation as we work to fulfil our mission of ensuring confidence in the global financial markets."
The new board members come after the OCC’s securities lending counterparty activity saw its average daily loan value for January 2021 increase 30.8 per cent compared with the first month of 2020, hitting $106.2 billion.
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Image: stock.adobe.com/Oleksandr Dibrova 