Options Clearing Corporation rebrands
17 March 2011 Chicago
Image: Shutterstock
Reflecting its more diverse suite of clearing solutions, The Options Clearing Corporation today has revised its brand identity and will now be known as OCC.
It has, of course, been informally known as OCC for 35 years, so the change—along with the slightly revised logo—more closely represents the evolution taking place at OCC, and in the marketplaces it serves. Clearing U.S. exchange-listed options remains the core business, but OCC offers more clearing solutions than the name Options Clearing Corporation implies.
Today OCC provides central counterparty (CCP) clearing and settlement services to 15 exchanges and trading platforms for options, financial and commodity futures, security futures and securities lending transactions. As a customer-focused clearing organization, OCC works to ensure its services offer the greatest utility to participant exchanges and clearing members at the lowest possible cost and at the highest risk management standard.
"OCC was formed as the CBOE Clearing Corporation and became the Options Clearing Corporation as more exchanges began trading options and the marketplace changed. Today we are recognizing again how our role in the market is changing," Wayne P. Luthringshausen, OCC Chairman and CEO. "What is not changing is OCC's role in providing a foundation for secure markets."
It has, of course, been informally known as OCC for 35 years, so the change—along with the slightly revised logo—more closely represents the evolution taking place at OCC, and in the marketplaces it serves. Clearing U.S. exchange-listed options remains the core business, but OCC offers more clearing solutions than the name Options Clearing Corporation implies.
Today OCC provides central counterparty (CCP) clearing and settlement services to 15 exchanges and trading platforms for options, financial and commodity futures, security futures and securities lending transactions. As a customer-focused clearing organization, OCC works to ensure its services offer the greatest utility to participant exchanges and clearing members at the lowest possible cost and at the highest risk management standard.
"OCC was formed as the CBOE Clearing Corporation and became the Options Clearing Corporation as more exchanges began trading options and the marketplace changed. Today we are recognizing again how our role in the market is changing," Wayne P. Luthringshausen, OCC Chairman and CEO. "What is not changing is OCC's role in providing a foundation for secure markets."
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