SOURCE: Options Clearing Corporation

Options Clearing Corporation

February 01, 2011 15:38 ET

OCC Announces Total Contract Volume in January Up 22%

CHICAGO, IL--(Marketwire - February 1, 2011) - The Options Clearing Corporation (OCC) announced today that total OCC cleared contract volume in January reached 381,558,077, a 22% increase from the January 2010 total of 313,538,874. OCC cleared an average of 19,077,904 contracts per day in January, up 16% compared to January 2010's average daily volume of 16,502,046.

Options: Exchange-listed options trading in the U.S for the month of January was up 21% from 2010 with 311,561,541 contracts. January 2011 marks the second highest monthly total on record, following only May 2010's record of 405,860,027 contracts. Index options volume in January rose 5% higher than last year with 23,684,992 contracts in January. The average daily volume for equity options was up 17% from January 2010 with 17,739,776 contracts per day.

Futures: Futures cleared by OCC in January rose to 3,077,571, a 56% increase from January of last year. Index and other futures reached 2,911,179, an 81% increase over January 2010. Equity futures came in at 166,145 this month, a 54% decrease from the same time last year.

Securities Lending: OCC's stock loan program, including OTC and AQS, saw an 84% increase in new loan activity over January 2010 with 72,494 new loan transactions in January. OCC's stock loan program has an average daily notional value of $13,633,109,469.

  Jan 2011 Total Contract Volume Jan 2010 Total Contract Volume Jan Total Contract % Change vs. 2010 YTD. Avg. Daily Contract 2011 YTD. Avg. Daily Contract 2010 Avg. Daily Contract % Change vs. 2010
Equity Options 354,795,514 288,939,483 23% 17,739,776 15,207,341 17%
Index Options 23,684,992 22,622,058 5% 1,184,250 1,190,635 -1%
Total Options 378,480,506 311,561,541 21% 18,924,025 16,397,976 15%
Equity Futures 166,145 365,142 -54% 8,307 19,218 -57%
Index /
Other Futures
2,911,179 1,611,472 81% 145,559 84,814 72%
Options of Futures 247 719 -66% 12 38 -68%
Total Futures 3,077,571 1,977,333 56% 153,879 104,070 48%
Total Volume 381,558,077 313,538,874 22% 19,077,904 16,502,046 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 15 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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