SOURCE: OCC

OCC

November 16, 2009 10:20 ET

The Options Clearing Corporation Launches Redesigned Website

CHICAGO, IL--(Marketwire - November 16, 2009) - The Options Clearing Corporation (OCC) announced today its web site, www.optionsclearing.com, has been redesigned and updated with an innovative and original design, improved navigation, robust content, and expanded reports to meet the needs of investors, market participants and the 13 exchanges and platforms for options, futures and securities lending transactions OCC serves.

As the world's largest derivatives clearing organization OCC worked to ensure that the web site provides information as efficiently as possible by seeking guidance from site users throughout the development process.

The new site includes content areas focused on core OCC areas of clearing, risk management, and member services. Other new features include a new Career center for prospective employees, an updated Press section for the media, and detailed information on OCC projects and initiatives.

Some of the main changes include updated reports that allow the user to quickly generate customized reports. For example, the daily volume statistics report will be replaced by a new query screen that will allow users to search and display daily volume and open interest data for options and futures. The report will support two years of rolling historical data and can be viewed or downloaded in a variety of formats.

The new Historical Volume Statistics report will allow users to search and display historical volume data for options and futures volume, open interest and options put/call ratio. The report will maintain five years of rolling historical data with the exception of annual statistics which will be provided from 1973 to present. Additionally, the Volume by Exchange query screen for both options and futures will show data by week, month and year as well as options for put and call and market share information supporting two years of rolling historical data.

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 Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization, and the Securities and Exchange Commission (SEC) as a Registered Clearing Agency. OCC now provides central counterparty (CCP) clearing and settlement services to 13 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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