OCC declares 2017 clearing member refund
19 September 2018 Chicago
Image: Shutterstock
OCC has refunded clearing members under its approved capital plan.
The refund of $78.7 million to clearing members was paid on 14 September.
John Davidson, president and COO at OCC, said: "This action taken under our approved capital plan is consistent with the operative fee, refund and dividend policies approved by the US Securities and Exchange Commission and which align with regulatory expectations.”
He added: “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."
OCC recently reported that total cleared contract volume in August reached 433 million contracts, an increase of 10 percent compared to last year’s August volume of 395 million.
OCC also revealed that its year-to-date average daily cleared contract volume is up 19 percent with 20 million contracts, compared to 17 million contracts last year.
OCC is an equity derivatives clearing organisation and the foundation for secure markets.
Founded in 1973, OCC operates under the jurisdiction of both the US Securities and Exchange Commission as a registered clearing agency and the US Commodity Futures Trading Commission as a derivatives clearing organisation.
The refund of $78.7 million to clearing members was paid on 14 September.
John Davidson, president and COO at OCC, said: "This action taken under our approved capital plan is consistent with the operative fee, refund and dividend policies approved by the US Securities and Exchange Commission and which align with regulatory expectations.”
He added: “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."
OCC recently reported that total cleared contract volume in August reached 433 million contracts, an increase of 10 percent compared to last year’s August volume of 395 million.
OCC also revealed that its year-to-date average daily cleared contract volume is up 19 percent with 20 million contracts, compared to 17 million contracts last year.
OCC is an equity derivatives clearing organisation and the foundation for secure markets.
Founded in 1973, OCC operates under the jurisdiction of both the US Securities and Exchange Commission as a registered clearing agency and the US Commodity Futures Trading Commission as a derivatives clearing organisation.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
