The Options Clearing Corporation Announces 2008 Options Volume Passes 2 Billion Contracts
SOURCE:
OCC
2008-07-23 09:52:00
The Options Clearing Corporation Announces 2008 Options Volume Passes 2 Billion Contracts
CHICAGO, IL–(EMWNews – July 23, 2008) – The Options Clearing Corporation (OCC) reported
that the total number of options contracts traded so far this year
surpassed 2 billion contracts yesterday. This marks the third consecutive
year that trading volume has achieved this level.
Total options volume hit 2 billion contracts for the first time on December
22, 2006 and then again on September 25, 2007. While it took 183 trading
days to reach this milestone in 2007, it only took 140 trading days for 2
billion contracts to change hands this year.
“During volatile times more investors are embracing the hedging power of
options,” said Michael E. Cahill, OCC President and Chief Operating
Officer. “The spectacular increases in trading volume over the past five
years are also a result of the innovative products and services the U.S.
options exchanges have brought to the marketplace.”
Year-to-date average daily options volume at OCC is 14.3 million contracts,
about 3 million contracts per day better than the daily average in 2007,
which was a record trading year for the industry.
OCC Background
OCC, founded in 1973, is the world’s largest derivatives clearing
organization and was the first clearinghouse to receive a ‘AAA’ credit
rating from Standard & Poor’s Corporation. Operating under the jurisdiction
of the Securities and Exchange Commission and the Commodity Futures Trading
Commission, OCC provides clearing and settlement services for the American
Stock Exchange, Boston Options Exchange, Chicago Board Options Exchange,
CBOE Futures Exchange, International Securities Exchange, NASDAQ Options
Market, NYSE Arca, OneChicago, Philadelphia Stock Exchange and Philadelphia
Board of Trade. More information about OCC is available through its Web
site at www.optionsclearing.com.
Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89
Get Unlimited Organic Website Traffic to your Website
TheNFG.com now offers Organic Lead Generation & Traffic Solutions