Nasdaq Options Market becomes OCC participant exchange
Nasdaq Options Market has become an Options Clearing
Corporation (OCC) participant exchange. This follows the recent
approval of Nasdaq Options Markets trading rules by the
Securities and Exchange Commission. Nasdaq Options Market began
trading on March 31.
As a result of Nasdaq Options Market's affiliation with OCC,
the standardised options contracts traded on there will be able
to be offset against the same options contracts traded on other
U.S. options markets, resulting in efficiencies for
participating member firms.
On behalf of Nasdaq OMX, we are delighted that Nasdaq
Options Market has officially become a member of the OCC, the
worlds largest equity derivatives clearing
organisation, commented Adam Nunes, vice president and
head of Nasdaq Options Market.
OCC is pleased to welcome Nasdaq Options Market during
this time of unprecedented growth in the U.S. options
marketplace, said Wayne Luthringshausen, OCC chairman and
CEO. As a participant exchange, Nasdaq Options Market
will be afforded the full range of state-of-the-art clearing
services available to all of our exchanges.
OCC, which operates under the jurisdiction of the SEC and the
Commodity Futures Trading Commission, clears and guarantees the
trades executed on all US options exchanges.
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