SOURCE: Options Clearing Corporation

Options Clearing Corporation

October 01, 2010 14:23 ET

OCC Announces Total Contract Volume Down 4% in September; Year-to-Date Average Daily Volume Up 6%

CHICAGO, IL--(Marketwire - October 1, 2010) -  The Options Clearing Corporation (OCC) announced today that total OCC cleared volume in September reached 303,851,940 contracts, representing a 4% decrease over the September 2009 volume of 316,624,143 contracts. OCC's year-to-date average daily volume is up 6% compared to 2009 with 15,332,099 contracts and year-to-date total volume is up 6% with 2,882,434,696 contracts.

Options: Exchange-listed options trading volume reached 302,075,193 contracts in September, a 4% decrease from September 2009. Index options trading rose 7% from the previous September. Year-to-date average daily contract volume for exchange-listed options is up 5% compared to the same period last year with 15,233,031 contracts.

Futures: OCC cleared 1,776,747 futures contracts in September, a 2% decrease from September 2009. Equity futures volume was 359,068 contracts, a 14% decrease over the same month last year. Index and other futures volume rose 2% over the previous September with 1,417,251 contracts. Year-to-date average daily contract volume for futures cleared by OCC is up 177% compared to 2009.

Securities Lending:  OCC's stock loan program, including OTC and AQS, saw a 74% increase in new loan activity over September 2009 with 59,460 new loan transactions in September. Year-to-date securities lending activity is up 64% from 2009 with 459,664 new loan transactions in 2010. OCC's stock loan program had an average daily notional value of $14,249,591,128.

  Sept. 2010 Total Contract Volume Sept. 2009 Total Contract Volume Sept. Total Contract % Change vs. 2009 YTD. Avg. Daily Contract 2010 YTD. Avg. Daily Contract 2009 Avg. Daily Contract % Change vs. 2009
Equity Options 279,696,406 293,862,512 -5% 14,053,213 13,529,540 4%
Index Options 22,378,787 20,947,353 7% 1,179,817 950,076 24%
Total Options 302,075,193 314,809,865 -4% 15,233,031 14,479,616 5%
Equity Futures 359,068 418,029 -14% 21,050 10,607 98%
Index / Other Futures 1,417,251 1,395,415 2% 77,997 25,148 210%
Options on Futures 428 834 -49% 22 21 5%
Total Futures 1,776,747 1,814,278 -2% 99,069 35,777 177%
Total Volume 303,851,940 316,624,143 -4% 15,332,099 14,515,393 6%

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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