The Options Clearing Corporation has renamed itself OCC as the organization broadens its suite of clearing solutions.
While clearing US exchange-listed options remains its core business, OCC says Options Clearing Corporation had become a misnomer given that it 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.
OCC was formed as the CBOE Clearing Corporation and became the Options Clearing Corporation as more exchanges began trading options and the marketplace changed, says OCC Chairman and CEO Wayne P. Luthringshausen. Today we are recognizing again how our role in the market is changing. What is not changing is OCCs role in providing a foundation for secure markets.