April 15, 2008 09:59 ET

The Options Clearing Corporation Named Clearing House of the Year at FOW Awards

CHICAGO, IL--(Marketwire - April 15, 2008) - The Options Clearing Corporation (OCC) announced today that it has won the "Clearing House of the Year" 2008 Award from FOW, a leading global derivatives publication.

The honor was announced in London last week at FOW's annual event to mark the achievements and recognize organizations that have made significant contributions to the advancement of the global derivatives industry. President and COO Michael Cahill accepted on behalf of OCC.

"OCC is honored to be recognized by FOW as Clearing House of the Year, an acknowledgement of all the hard work our staff provides to the listed options and futures markets we serve," Mr. Cahill said. "We're proud of our ability to provide the lowest cost clearance and settlement services while maintaining state-of-the-art technology, proven production processing, world class risk management and robust business continuity capabilities."

On presenting the award, FOW noted one of its judges said, "Options Clearing Corporation supports multiple exchanges. It has coped with an influx of business and looked for outward expansion -- that's a great effort." The U.S. options industry has experienced phenomenal growth over the last several years and OCC is clearing on average more than 14 million contracts a day for 2008.

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 American Stock Exchange, the Boston Stock Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, OneChicago, NASDAQ Options Market, NYSE Arca, Philadelphia Stock Exchange and Philadelphia Board of Trade. More information about OCC is available on its Web site at

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