US equity options expert to expand clearing model for securities lending this year
The Options Clearing Corporation, the US
equity options clearer, has applied to the US futures regulator
to change the rules covering its management structure,
proposing to merge the roles of executive chairman and chief
The proposed changes would see the role of
executive chairman of the Options Clearing Corporation (OCC)
merge with the function of OCC chief executive
officer, making him or her
responsible for all aspects of the OCC’s business
and the day-to-day administration of its affairs. The proposal
would also remove the president as a recognised
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