SOURCE: The Options Clearing Corporation

December 19, 2006 12:58 ET

The Options Clearing Corporation Announces Several Officer Promotions

CHICAGO, IL -- (MARKET WIRE) -- December 19, 2006 -- The Options Clearing Corporation (OCC) today announced the following promotions.

Larry Brown to First Vice President, Internal Audit from Vice President, Internal Audit. Brown will continue to lead and manage OCC's Internal Audit activities and will play a key role in assuring enterprise wide alignment of various internal control-related initiatives being undertaken by OCC.

Dan DeWaal to First Vice President and Chief Security Officer, Security Services from Vice President, Security Services. DeWaal will manage several new duties in role as First Vice President and Chief Information Security Officer, including Physical Security, Personnel Security, InfoSec Operations, IT Controls & Risk Management, and IT Governance & Compliance. He also will represent OCC in a number of industry organizations.

Carol Letofsky to First Vice President, Human Resources from Vice President, Human Resources. Letofsky will continue to manage OCC's Human Resources and will add new responsibilities in Administration and Office Services.

David H. Harrison to Vice President, Member Services from Director, Member Services. In his expanded role as Vice President, Harrison will lead an industry committee to streamline processing -- a multi-tiered, multi-year project addressing system-wide improvements to daily and expiration processing -- and will continue to manage the OCC Operations Roundtable.

Bruce Kelber to Vice President, Legal Department from Director, Legal Department. Kelber will serve as principal in-house attorney for OCC's Remote Business Center.

Douglas MacKay to Vice President/Controller, Finance and Accounting from Vice President, Finance and Accounting. In his new role as Controller, MacKay will add responsibility for duties such as monthly financial preparations, taxes, corporate insurance and the year end audit.

The promotions were awarded at the end of a record year for OCC and the options industry.

About OCC

OCC, founded in 1973, is the world's largest derivatives clearing organization and was the first clearinghouse to receive a 'AAA' credit rating from Standard & Poor's Corporation. Operating under the jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission, OCC provides clearing and settlement services for the American Stock Exchange, the Boston Options Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, OneChicago, Pacific Exchange, Philadelphia Stock Exchange and Philadelphia Board of Trade. More information about OCC is available through its Web site at

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