The Options Clearing Corporation has decided to move into clearing over-the-counter US equity options, beginning with the most liquid contract, the S&P 500 Index option.
OCC wants to open the service in summer 2011, subject to
The move is significant, as it will bring one of the
world’s most sophisticated clearing houses into
the OTC market for the first time. OCC operates a centralised
clearing house for trades at all eight US options exchanges, as
well as some other markets.
So far, most of the attention in the debate over OTC
clearing has focussed on the biggest parts of the market
– interest rate swaps, credit default swaps and