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OCC history
OCC company history timeline
Founded in 1973, OCC is the largest such organization worldwide.
Established in 1973, the Options Clearing Corporation (OCC) is an options clearinghouse that is owned by the four securities exchanges that make markets in listed stock options.
It is the first new United States options exchange since 1985 and the first all-electronic options exchange.
"ABN AMRO Chicago Corporation to Acquire Sage Clearing." Harvard Business Review, November/December 1997, 157.
In June 1998 it became the first clearinghouse to receive a AAA rating from Standard & Poor's, reflecting its leadership in clearance, settlement, and risk management systems.
Bere, Carol. "The OCC Sets the Pace." Global Finance, June 1998, 94.
The year concludes with total options volume reaching 1,182,040,096 contracts, exceeding the 907,858,655 total options volume contracts traded in 2003 by 30.2 percent.
Options volume surpassed 2 billion contracts for the first time ever, finishing the year at 2,027,847,586, 34.8% higher than 2005's record volume.
A new annual trading volume record is set with 2,862,826,218 contracts changing hands, 41.2% higher than 2006's record volume.
OCC announces the largest clearing fee refund on March 5 of $58,665,731 to Clearing Members for the year ended December 31, 2007.
August 16, 2007 saw a new daily trading volume record with 23,745,650 contracts changing hands.
Annual trading volume was 3,612,637,118 contracts, which surpasses 2008's record year by 0.84 percent.
In October NYSE Liffe announced it has chosen OCC to take over clearing responsibilities for its United States futures arm to begin in the first-quarter of 2009.
In December OCC won the 2010 Best Innovation by a Clearing House - Americas Award for 2010 from FOW Magazine, for its efforts in the Options Symbology Initiative (OSI).
OCC cleared contract volume reached 4,170,855,768 contracts, up 3 percent from 2012 volume.
In March, the United States Securities and Exchange Commission (SEC) approved OCC's capital plan, which increased shareholders' equity from $25 million at the end of 2013 to $247 million.
Beginning on Friday, June 21, 2013 expiration processing of standard options moved from Saturday to Friday, the culmination of a multi-year industry wide project.
Industry veteran Craig S. Donohue joined OCC in 2014, soon taking the top spot.
On February 12, the United States Securities and Exchange Commission (SEC), following an independent review of the record by the full Commission, approved OCC's capital plan which was previously approved on behalf of the Commission by SEC staff in March 2015.
Annual cleared contract volume in 2015 was the third-highest total ever at 4,210,542,258 contracts.
The OCC board of directors gave Donohue the added responsibility of CEO in September of 2016.
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OCC competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| CME Group | 1848 | $6.1B | 4,500 | 47 |
| DTCC | 1999 | $1.8B | 4,300 | 219 |
| Citi | 1812 | $74.3B | 210,000 | 1,034 |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,072 |
| Stifel Financial | 1890 | $49.8M | 7,100 | 128 |
| Pacific Investment Management Company LLC | 1971 | $787.9M | 2,900 | 145 |
| The Vanguard Group | 1975 | $6.9B | 17,600 | 28 |
| Federal Deposit Insurance | 1933 | $5.5B | 5,977 | - |
| Nasdaq | 1971 | $7.4B | 4,830 | 105 |
| Farm Credit System | 1916 | $1.1B | 10,001 | 92 |
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Zippia gives an in-depth look into the details of OCC, including salaries, political affiliations, employee data, and more, in order to inform job seekers about OCC. The employee data is based on information from people who have self-reported their past or current employments at OCC. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by OCC. The data presented on this page does not represent the view of OCC and its employees or that of Zippia.
OCC may also be known as or be related to OCC, OCC - The Options Clearing Corporation, OPTIONS CLEARING CORP, Occ, Options Clearing, Options Clearing Corporation, The Options Clearing Corp. and The Options Clearing Corporation.