OCC welcomes the Small Exchange
02 June 2020 Chicago
Image: vichie81/Shutterstock
OCC has welcomed the Small Exchange as a participant exchange following its successful launch.
With the addition of the Small Exchange, OCC now provides central counterparty clearing and settlement services to 21 exchanges and trading platforms for options, security futures, financial and commodity futures, and securities lending transactions.
The Small Exchange facilitates trading for all types of market participants, and its initial product offering consists of cash-settled futures contracts based on proprietary indices in equities, metals, and foreign exchange.
Products are smaller in notional size and have a corresponding margin requirement, with standardised expirations and tick sizes that facilitate ease of use for retail customers.
John Davidson, OCC’s CEO, said: "As the US exchange-traded derivatives industry continues to expand, we are pleased to welcome the Small Exchange as a participant exchange. In that role, the Small Exchange will be afforded the full range of clearing and risk management services available to all of our other participating exchanges."
Scot Warren, COO of OCC, added: "As a systemically important financial market utility, we look forward to working with the Small Exchange and promoting operational excellence and innovation to support the continued growth of exchange-traded options and futures in the US.”
With the addition of the Small Exchange, OCC now provides central counterparty clearing and settlement services to 21 exchanges and trading platforms for options, security futures, financial and commodity futures, and securities lending transactions.
The Small Exchange facilitates trading for all types of market participants, and its initial product offering consists of cash-settled futures contracts based on proprietary indices in equities, metals, and foreign exchange.
Products are smaller in notional size and have a corresponding margin requirement, with standardised expirations and tick sizes that facilitate ease of use for retail customers.
John Davidson, OCC’s CEO, said: "As the US exchange-traded derivatives industry continues to expand, we are pleased to welcome the Small Exchange as a participant exchange. In that role, the Small Exchange will be afforded the full range of clearing and risk management services available to all of our other participating exchanges."
Scot Warren, COO of OCC, added: "As a systemically important financial market utility, we look forward to working with the Small Exchange and promoting operational excellence and innovation to support the continued growth of exchange-traded options and futures in the US.”
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