CFTC greenlights Options Clearing Corporation for stock futures
12 December 2001 | 2502 views | 0
The Commodity Futures Trading Commission (CFTC) has approved the Options Clearing Corporation (OCC) as a derivatives clearing organisation (DCO).
As a registered DCO, OCC will be able to provide clearing and settlement services for transactions in commodity futures and options on commodity futures.
Wayne Luthringshausen, OCC chairman and chief executive officer, says: "Coupled with our long-standing registration with the Securities and Exchange Commission as a securities clearing agency, this will enable us to provide a full range of clearing services to US derivatives markets and create greater efficiencies for our clearing members."
OCC currently has an agreement with Nasdaq Liffe Markets (NQLX) to clear its security futures and is in discussions with other markets proposing to trade the new breed of stock index futures.