SOURCE: Options Clearing Corporation

Options Clearing Corporation

May 03, 2010 17:34 ET

The Options Clearing Corporation Announces Total Contract Volume in April Increased 12%

CHICAGO, IL--(Marketwire - May 3, 2010) -  The Options Clearing Corporation (OCC) announced today that total OCC volume reached 363,275,500 contracts in April. This represents an 11.79% percent increase over the April 2009 volume of 324,951,307 contracts. OCC year to date total volume is up 9.16% with 1,294,545,141 contracts.

Options: Exchange-listed options trading in the U.S for the month of April was up 11% from the previous year. Index options trading increased 30% higher than the previous April with 25,995,142 contracts. Equity options trading volume rose 9.9% with 334,758,439 contracts.

Futures: Futures cleared by OCC in April rose to 2,521,919 with an average daily contract of 107,206. Equity futures volume reached 555,255 contracts, a 549% percent increase over the same month last year where 85,580 were traded. Index and other futures volume came in at 1,966,290 this month and show a year to date average of 87,642 daily contracts. 

Securities Lending: OCC's stock loan program, including OTC and AQS, saw an average daily notional value of $13,560,953,607, a 5% percent decrease from March's average open interest. The past year has seen a trend to increasing average daily stock loan transactions, including from March to April despite the decline in notional value. As OCC expanded its stock loan program last year, it also changed the program measurement process. Therefore, precise year-on-year data will not be available until mid-year.

  Apr 2010 Total Contract Volume Apr 2009 Total Contract Volume Apr Total Contract % Change vs. 2009 YTD. Avg. Daily Contract 2010 YTD. Avg. Daily Contract 2009 Avg. Daily Contract % Change vs. 2009
Equity Options 334,758,439 304,602,781 9.9% 14,478,805 13,478,243 7.42%
Index Options 25,995,142 19,942,890 30.35% 1,201,125 971,282 23.66%
Total Options 360,753,581 324,545,671 11.16% 15,679,930 14,449,525 8.52%
Equity Futures 555,255 85,580 549% 19,536 7,279 168%
Index / Other Futures 1,966,290 319,334 516% 87,642 5,994 1362%
Options on Futures 374 722 -48.2% 28 9 211%
Total Futures 2,521,919 405,636 522% 107,206 13,282 707%
Total Volume 363,275,500 324,951,307 11.79% 15,787,136 14,462,807 9.16%

About OCC
OCC is the world's largest derivatives clearing organization by contract volume and open interest. Founded in 1973, OCC operates under the jurisdiction of both the Securities and Exchange Commission (SEC) as a Registered Clearing Agency and the Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. OCC now provides central counterparty (CCP) clearing and settlement services to 14 exchanges and platforms for options, financial and commodity futures, security futures and securities lending transactions.

As the CCP clearinghouse for the markets it serves, OCC assumes the counterparty risk of members involved in a trade-becoming the buyer to every seller and the seller to every buyer. OCC manages its risk of member default by collecting margin (collateral). Clearing member margin requirements are calculated using OCC's proprietary System for Theoretical Analysis and Numerical Simulations (STANS) that uses large-scale Monte Carlo simulations to forecast price moves and correlations to make those margin determinations. In 1993, OCC became the first clearinghouse to receive a 'AAA' credit rating from Standard & Poor's Corporation, and has continued to receive that high rating every year as a result of its risk management standards.

OCC operates as a utility clearinghouse, owned by several of its participant exchanges but with a Board of Directors majority drawn from its clearing members, allowing it to provide highly efficient but low-cost solutions to the markets it serves. More information about OCC is available through its Web site at www.optionsclearing.com.

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