February 17, 2009 11:22 ET

The Options Clearing Corporation Honored With Most Effective IT Team Award by AITP

CHICAGO, IL--(Marketwire - February 17, 2009) - The Options Clearing Corporation (OCC) announced today that it was honored with the "Most Effective IT Team" Award by The Association of Information Technologies Professionals (AITP) Chicago Chapter.

The award was announced last week at the AITP monthly luncheon where important achievements and contributions in information technology were honored. Accepting the award on behalf OCC's IT department and OCC were Executive Vice President and CIO, John Von Stein, Jennifer Stathis (Application Services), Scott Everhart (Technology Services), Vince Powell (Production Services) and Dan DeWaal (IT Security, Controls, and Compliance).

OCC took the annual award for Most Effective IT Team in the large business class, based on company staff of over fifty-one people and revenue over $3 billion. A review committee evaluates each entrant based on Cost Effectiveness, Innovation, Change Leadership, Value Creation, Service Quality, and Community Service.

Recently OCC was selected by NYSE Liffe, ELX and Quadriserv to provide clearing and settlement services for their new futures and securities lending platforms. While OCC already serves as the premier derivatives clearing organization known for the clearance and settlement of equity options, the successful expansion into these growing areas has been a testament to the IT team's flexibility, dependability and experience.

OCC Background

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 Boston Options Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, NASDAQ Options Market, NASDAQ OMX PHLX, NYSE Amex Options, NYSE Arca, OneChicago and Philadelphia Board of Trade. More information about OCC is available through its Web site at

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