OCC

The Options Clearing Corporation (OCC) provides central counterparty clearing and settlement services for equity derivatives. As the world's largest equity derivatives clearing organization, it acts as both issuer and guarantor for options, futures, and securities lending transactions. OCC offers critical infrastructure that underpins the stability and integrity of financial markets by mitigating counterparty risk.

Founded in 1973, OCC was established to create a centralized clearing house for the burgeoning listed equity options markets. The initial concept, championed by figures like Wayne Luthringshausen, arose from the necessity to standardize and guarantee the obligations of these new, complex financial instruments. This insight aimed to foster confidence and facilitate growth in the nascent options trading landscape.

OCC serves a broad base of market participants, including over 100 clearing members comprised of major broker-dealers, futures commission merchants, and non-U.S. securities firms. It also provides clearing services to 20 exchanges and trading platforms. The organization's enduring vision is to serve as the foundation for secure markets, committed to promoting overall stability and integrity across the financial ecosystem.