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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

OCC Welcomes MIAX Emerald Options Exchange

March 4, 2019

CHICAGO--(BUSINESS WIRE)--Mar 4, 2019--OCC, the world’s largest equity derivatives clearing organization, today congratulated MIAX on the launch of MIAX Emerald, which began operations on Friday. This successful launch brings the total number of U.S. options markets to sixteen.

“OCC congratulates the Miami International Securities Exchange on the successful launch of MIAX Emerald,” said John Davidson, OCC Chief Executive Officer. “As a Systemically Important Financial Market Utility, we are pleased to provide central counterparty clearing and settlement services to our newest participant exchange and to all of the U.S. options exchanges who serve the users of these markets. We look forward to the continued success of MIAX Emerald and the continued growth of the U.S. exchange-traded options industry.”

With the addition of MIAX Emerald, OCC provides central counterparty clearing and settlement services to 20 exchanges and trading platforms for options, security futures, financial and commodity futures, and securities lending transactions. In 2018, OCC’s cleared contract volume was 5.24 billion total contracts and 5.14 billion options contracts. These numbers surpass the previous industry records, set in 2011, of 4.60 billion total contracts and 4.56 billion options contracts.

About OCC

OCC is the world’s largest equity derivatives clearing organization. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2018 Best Clearing House by Markets Media, and Clearing House of the Year – The Americas by FOW, OCC now provides central counterparty (CCP) clearing and settlement services to 20 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190304005628/en/

CONTACT: Alex Starace

312-986-6005

astarace@theocc.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE OTHER PROFESSIONAL SERVICES

SOURCE: OCC

Copyright Business Wire 2019.

PUB: 03/04/2019 10:18 AM/DISC: 03/04/2019 10:18 AM

http://www.businesswire.com/news/home/20190304005628/en