The Options Clearing Corporation (OCC) and CBOE Holdings (NASDAQ: CBOE) announced today that C2 Options Exchange, Incorporated (C2) has become an OCC participant exchange. C2 began operations on Friday, October 29.
The addition of C2 as CBOE Holdings' new all-electronic options alternative now brings the total number of options markets in the U.S. to nine.
"We are excited to launch C2, our all-electronic alternative for options," CBOE Holdings, Inc. Chairman and CEO William J. Brodsky, said. "C2 emphasizes speed, simplicity, and a different and competitive fee schedule, and aims to attract an even broader customer base. As we grow this new venture, we look forward to continuing what has been an excellent working relationship with the OCC."
Wayne P. Luthringshausen, OCC Chairman and CEO, said, "We would like to extend a warm welcome to the newest options market, C2. As a participant exchange, C2 joins the eight other options markets to share in the benefits afforded through OCC's central counterparty clearing and settlement services."
OCC operates under the jurisdiction of the SEC and the Commodity Futures Trading Commission, and clears and guarantees the trades executed on all U.S. options exchanges. As a result of C2's affiliation with OCC, the standardized options contracts traded on C2 can be offset against the same options contracts traded on the other U.S. options markets, resulting in significant efficiencies for participating member firms.