SOURCE: Options Clearing Corporation

Options Clearing Corporation

December 01, 2010 17:23 ET

OCC Announces Total Contract Volume in November Increased 33%

CHICAGO, IL--(Marketwire - December 1, 2010) - The Options Clearing Corporation (OCC) announced today that total OCC volume reached 354,897,569 contracts in November. This represents a 33% percent increase over the November 2009 volume of 266,989,810 contracts. OCC year-to-date total volume is up 8% with 3,581,480,630 contracts, only 43,540,423 contracts away from last year's annual total. As of the end of November, OCC's year-to-date cleared futures volume is 23,619,380, nearly double the 2009 annual total of 12,383,935 contracts.

Options: Exchange-listed options trading in the U.S for the month of November was up 33% from the previous year. Index options trading increased 5% over the previous November with 23,247,409 contracts. Equity options trading volume rose 35% compared to the same month last year with 328,797,894 contracts in November.

Futures: Futures cleared by OCC in November rose to 2,852,266 with an average daily contract volume of 135,822. Index and other futures volume reached 2,632,779 contracts in November, a 74% percent increase over the same month last year where 1,513,317 were traded. Futures cleared by OCC show a year-to-date average daily contract volume of 102,693.

Securities Lending: OCC's stock loan program, including OTC and AQS, saw a 71% increase in new loan activity over November 2009 with 63,852 new loan transactions in November. Year-to-date securities lending activity is up 66% from 2009 with 587,320 new loan transactions in 2010. OCC's stock loan program had an average daily notional value of $13,115,494,987.

  Nov. 2010 Total Contract Volume   Nov. 2009 Total Contract Volume Nov. Total Contract % Change vs. 2009   YTD. Avg. Daily Contract 2010   YTD. Avg. Daily Contract 2009 Avg. Daily Contract % Change vs. 2009  
Equity Options 328,797,894   242,891,866 35 % 14,304,223   13,448,584 6 %
Index Options 23,247,409   22,160,937 5 % 1,164,739   975,997 19 %
Total Options 352,045,303   265,052,803 33 % 15,468,962   14,424,581 7 %
Equity Futures 219,071   423,265 -48 % 18,844   11,454 65 %
Index / Other Futures 2,632,779   1,513,317 74 % 83,827   34,891 140 %
Options on Futures 416   425 -2 % 22   21 5 %
Total Futures 2,852,266   1,937,007 47 % 102,693   46,367 121 %
Total Volume 354,897,569   266,989,810 33 % 15,571,655   14,470,948 8 %

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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