OCC continues to clear industry path
23 March 2018 Washington DC
Image: Shutterstock
The Options and Clearing Corporation (OCC) “achieved a number of key milestones” in 2017, including a total cleared volume of over 4.3 billion contracts, according to the latest OCC News.
It also revealed this cleared exchange-listed options rose by three percent to 4.1 billion contracts and cleared future contracts grew by 32 percent to 138 million contracts, representing an increasingly diverse product mix.
The OCC said these achievements “position the company for continued resiliency, innovation and growth while providing its exchange partners, clearing firms, and market participants with open access and reliable central counterparty services with operational excellence”.
It added that enhancing its resiliency as a Systemically Important Financial Market Utility (SIFMU) is critical to its continued ability to reduce systemic risk, increase market transparency, and provide capital and collateral efficiencies for the users of the US exchange-listed options markets.
The OCC said: “We continue to work to reduce systemic risk across the global financial markets, particularly supporting the efforts of the Securities Exchange Commission (SEC) to improve the registered clearing entities.”
“The SEC's reaffirmation in 2016 of our capital plan allows OCC to continue to comply with domestic and global regulatory requirements on sufficient liquid net assets.”
It also revealed this cleared exchange-listed options rose by three percent to 4.1 billion contracts and cleared future contracts grew by 32 percent to 138 million contracts, representing an increasingly diverse product mix.
The OCC said these achievements “position the company for continued resiliency, innovation and growth while providing its exchange partners, clearing firms, and market participants with open access and reliable central counterparty services with operational excellence”.
It added that enhancing its resiliency as a Systemically Important Financial Market Utility (SIFMU) is critical to its continued ability to reduce systemic risk, increase market transparency, and provide capital and collateral efficiencies for the users of the US exchange-listed options markets.
The OCC said: “We continue to work to reduce systemic risk across the global financial markets, particularly supporting the efforts of the Securities Exchange Commission (SEC) to improve the registered clearing entities.”
“The SEC's reaffirmation in 2016 of our capital plan allows OCC to continue to comply with domestic and global regulatory requirements on sufficient liquid net assets.”
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