OCC welcomes new exchange, publishes May SBL data
02 June 2020 Chicago
Image: Anton Gvozdikov/Shutterstock.com
The Options Clearing Corporation (OCC) recorded a 9.68 percent drop-off in new securities loans via its central counterparty (CCP) last month, compared to May 2019.
The Chicago-based OCC facilitated 108,016 new securities lending transactions in May.
Meanwhile, the securities lending CCP’s average daily loan value was $74.42 billion last month, up 0.72 percent compared to the same period in 2019.
Compared to May 2019, the OCC’s total cleared contract volume for May was 545,272,318 contracts, up 17.3 percent, while its year-to-date average daily total cleared contract volume was 27.7 million contracts, up 41.5 percent.
The latest volume figures come as the OCC welcomes the recently-launched Small Exchange to the OCC marketplace.
Also, based in Chicago the new exchange facilitates trading for all types of market participants, offering cash-settled futures contracts based on proprietary indices in equities, metals, and foreign exchange.
With the addition of the Small Exchange, OCC now provides clearing and settlement services to 21 exchanges and trading platforms for options, security futures, financial and commodity futures, and securities lending transactions.
"As the US exchange-traded derivatives industry continues to expand, we are pleased to welcome the Small Exchange as a participant exchange,” says OCC CEO John Davidson.
“In that role, the Small Exchange will be afforded the full range of clearing and risk management services available to all of our other participating exchanges.”
COO Scot Warren adds: “As a systemically important financial market utility, we look forward to working with the Small Exchange and promoting operational excellence and innovation to support the continued growth of exchange-traded options and futures in the US".
The Chicago-based OCC facilitated 108,016 new securities lending transactions in May.
Meanwhile, the securities lending CCP’s average daily loan value was $74.42 billion last month, up 0.72 percent compared to the same period in 2019.
Compared to May 2019, the OCC’s total cleared contract volume for May was 545,272,318 contracts, up 17.3 percent, while its year-to-date average daily total cleared contract volume was 27.7 million contracts, up 41.5 percent.
The latest volume figures come as the OCC welcomes the recently-launched Small Exchange to the OCC marketplace.
Also, based in Chicago the new exchange facilitates trading for all types of market participants, offering cash-settled futures contracts based on proprietary indices in equities, metals, and foreign exchange.
With the addition of the Small Exchange, OCC now provides clearing and settlement services to 21 exchanges and trading platforms for options, security futures, financial and commodity futures, and securities lending transactions.
"As the US exchange-traded derivatives industry continues to expand, we are pleased to welcome the Small Exchange as a participant exchange,” says OCC CEO John Davidson.
“In that role, the Small Exchange will be afforded the full range of clearing and risk management services available to all of our other participating exchanges.”
COO Scot Warren adds: “As a systemically important financial market utility, we look forward to working with the Small Exchange and promoting operational excellence and innovation to support the continued growth of exchange-traded options and futures in the US".
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