OCC stands for the Options Clearing Corporation. It is a financial services company that provides clearing and settlement services for the exchange of options and futures contracts.
OCC, or the Options Clearing Corporation, is a financial services company that provides clearing and settlement services for the U.S. options and futures markets. It is the world’s largest equity derivatives clearing organization and is a registered clearing agency with the U.S. Securities and Exchange Commission (SEC). OCC is owned by the major U.S. options exchanges, including the Chicago Board Options Exchange (CBOE), the International Securities Exchange (ISE), the NASDAQ Options Market (NOM), and the New York Stock Exchange (NYSE).
OCC was founded in 1973 as a non-profit organization to provide clearing and settlement services for the U.S. options and futures markets. It is the only clearinghouse for U.S. options and futures exchanges and is responsible for ensuring the integrity of the markets by guaranteeing the performance of all trades. OCC is also responsible for the settlement of all trades, which includes the delivery of securities and the payment of funds.
OCC is a critical part of the U.S. financial system, providing a secure and efficient way to clear and settle trades. It is responsible for ensuring that all trades are settled in a timely manner and that all parties involved in the trade are protected from risk. OCC also provides a range of services to its members, including risk management, market surveillance, and technology services.
OCC is a key player in the U.S. financial system and is essential to the functioning of the markets. It is responsible for ensuring the integrity of the markets and providing a secure and efficient way to clear and settle trades. OCC is also responsible for providing a range of services to its members, including risk management, market surveillance, and technology services.