January 18, 2017 10:30 PM ET

Capital Markets

Company Overview of The Options Clearing Corporation

Company Overview

The Options Clearing Corporation provides equity derivatives clearing services. It offers central counterparty clearing and settlement services to exchanges; and trading platforms for options, financial futures, security futures, and securities lending transactions. The company also provides risk management services, such as margin methodology, default rules and procedures, cross margin programs, cross margin eligible products report, risk based haircuts, and customer portfolio margin. The Options Clearing Corporation was founded in 1972 and is based in Chicago, Illinois.

One North Wacker Drive

Suite 500

Chicago, IL 60606

United States

Founded in 1972

Phone:

312-322-6200

Fax:

312-977-0611

Key Executives for The Options Clearing Corporation

Executive Chairman and Chief Executive Officer
Age: 54
Chief Financial Officer and Senior Vice President
Chief Operating Officer
Chief Information Officer and Senior Vice President
Senior Vice President, General Counsel and Corporate Secretary
Compensation as of Fiscal Year 2016.

The Options Clearing Corporation Key Developments

OCC Announces Management Changes

OCC announced three additions to its senior management team. Amy Shelly, a former Chief Financial Officer with Optiver U.S. LLC, who has over 20 years of financial services management experience, has been named Senior Vice President and Chief Financial Officer. She replaces Kim McGarry, and will start in her new role on December 5. Shelly will be responsible for finance, accounting, strategic sourcing and facilities, as well as a new treasury function. James Pribel, formerly Executive Director and Treasurer at CME Group, has been named First Vice President, Treasury, which is a new position in the organization. Pribel’s appointment is effective immediately. In addition, Joe Adamczyk, currently OCC’s First Vice President and Deputy General Counsel, is being promoted to Senior Vice President and Chief Compliance Officer, replacing Richard Wallace. Adamczyk’s appointment is effective immediately. Prior to joining OCC, Shelly was the interim Chief Financial Officer for a private equity portfolio company in 2016. Adamczyk joined OCC in 2015 and has been working primarily on compliance and regulatory exam management issues. He worked for CME Group from 2007 to 2015, most recently as Managing Director, Associate General Counsel, where he advocated for the firm before regulators, policy makers and industry panels throughout the U.S., Europe, Middle East, and Asia Pacific. Adamczyk has also worked for the Chicago law firms of Jenner & Block LLP, and Freeman, Freeman and Salzman, P.C. He holds a Master of Business Administration from the University of Chicago Booth School of Business, a Juris Doctor from Loyola University Chicago School of Law, and a Bachelor of Science from DePaul University.

Options Clearing Corporation Announces Executive Changes

The Options Clearing Corporation announced that Michael McClain and Scot  Warren part of a newly created office of the executive chairman and CEO.  McClain is the company's COO, while Warren, who previously served  as executive vice president of business development, has been promoted to chief administrative officer. John Fennell, formerly executive vice president of financial risk management, will become executive vice president and chief risk officer. Replacing Fennell will be Dale Michaels, who has been working on the company's securities lending initiatives since he joined OCC in January. The company promoted first vice president of internal audit Adi Agrawal to senior vice president and chief audit executive. He replaces Jim Knoeck, who already left the company. Chip Dempsey, a former Morgan Stanley executive, will become senior vice president and chief commercial officer at OCC. At Morgan Stanley, Dempsey served as executive director of principal strategic investments. Also joining the company is Julie Bauer, who will work as senior vice president of government relations. Bauer, a former FINRA executive, will replace Joe Corcoran, who is moving to the company's legal department. David Prosperi, formerly first vice president of public relations, will assume additional responsibilities as first vice president of communications, the options industry council, and internet services.

The Options Clearing Corporation and eSecLending to Create Liquidity Facility with CalPERS

The Options Clearing Corporation and eSecLending announced that they collaborated with CalPERS to develop a product to help OCC diversify and increase their committed liquidity resources while offering a compelling risk-adjusted return for CalPERS. The fully collateralized facility offers the OCC, equity derivatives clearing organization, a source of timely access to liquidity while maintaining CalPERS conservative risk profile.

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