Nyse Liffe US, the U.S. futures exchange of Nyse Euronext (NYX), announced that it successfully completed the transition to its new clearing house, The Options Clearing Corporation (OCC).
"We would like to thank our valued members and customers for their tremendous support. Their efforts were essential in ensuring our clearing migration to OCC was a success," said Thomas F. Callahan, NYSE Euronext Executive Vice President and Head of U.S. Futures. "This transition was an important milestone to ensure that NYSE Liffe US delivers operational excellence to our clients. In combination with our recent technology enhancements, we are now extremely well positioned to offer market leading products, services and capital efficiencies to the global trading community."
"The transition of open interest was a success, the result of hard work and the cooperative efforts of the Clearing Members, NYSE Liffe US project team and OCC staff," said Michael E. Cahill, OCC President and Chief Operating Officer. "OCC is very pleased to support NYSE Liffe US products."
The Options Clearing Corporation manages risk on more open interest than any clearinghouse in the world. The OCC manages that risk through a three-tiered system of stringent membership standards, appropriate and adequate margin levels and a clearing fund of $4.4 billion. This arrangement gives NYSE Liffe US customers confidence in the security of their margin debts combined with industry-leading technology and an established, cost-effective global clearing solution.