SOURCE: Options Clearing Corporation

Options Clearing Corporation

February 01, 2010 18:10 ET

OCC Announces a Strong Start to 2010

CHICAGO, IL--(Marketwire - February 1, 2010) - The Options Clearing Corporation (OCC) announced a significant increase in trading volume to start off 2010. Total OCC contract volume for January was up 22% from January 2009, averaging 16,502,046 contracts per day.

Options: Exchange-listed options trading in the U.S. rose 21% higher than the previous January. A strong start after a record year, January 2010 is now the second highest January on record for total options volume.

Futures: Expansion of OCC's futures clearing business continues to grow as futures cleared by OCC totaled 1,977,333 in Jan, 914% higher than the same month last year.

Securities Lending: January 2010 marks the one year anniversary of OCC acting as the central counterparty clearinghouse for the AQS platform. OCC's total OTC and AQS stock loan activity ends the month with a stock loan contract notional value of $12,234,089,594, a 2.6% decrease from the previous January.

                                      Jan.                           Avg.
                                      Total                          Daily
                                    Contract                       Contract
              Jan. 2010   Jan. 2009     %     YTD. Avg.   YTD. Avg.    %
                Total       Total    Change    Daily       Daily    Change
               Contract    Contract    vs.    Contract    Contract    vs.
                Volume      Volume    2009      2010        2009     2009
              ----------- ----------- -----  ----------- ----------- -----
Equity
 Options      288,939,483 239,489,712    21%  15,207,341  11,974,486    27%
              ----------- ----------- -----  ----------- ----------- -----
Index Options  22,622,058  18,323,801    23%   1,190,635     916,190    30%
              ----------- ----------- -----  ----------- ----------- -----
Total Options 311,561,541 257,813,513    21%  16,397,976  12,890,675    27%
              ----------- ----------- -----  ----------- ----------- -----
Equity
 Futures          365,142     153,584   138%      19,218       7,679   150%
              ----------- ----------- -----  ----------- ----------- -----
Index / Other
 Futures        1,611,472      41,412  3791%      84,814       2,071  3995%
              ----------- ----------- -----  ----------- ----------- -----
Options on
 Futures              719           0   N/A           38           0   N/A
              ----------- ----------- -----  ----------- ----------- -----
Total Futures   1,977,333     194,996   914%     104,070       9,750   967%
              ----------- ----------- -----  ----------- ----------- -----
Total Volume  313,538,874 258,008,509    22%  16,502,046  12,900,425    28%
              ----------- ----------- -----  ----------- ----------- -----

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 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.

Contact Information