March 05, 2015 3:21 AM ET

Capital Markets

Company Overview of The Options Clearing Corporation

Company Overview

The Options Clearing Corporation operates as an equity derivatives clearing organization. It offers central counterparty clearing and settlement services to various exchanges and trading platforms for options, financial and commodity futures, security futures, stock loan programs, cross margin programs, and securities lending transactions. The company also provides industry services, such as delta position limits, decentralized linkage programs, and investor services. The Options Clearing Corporation was incorporated in 1972 and is based in Chicago, Illinois.

One North Wacker Drive

Suite 500

Chicago, IL 60606

United States

Founded in 1972





Key Executives for The Options Clearing Corporation

Chief Executive Officer, President and Treasurer
Executive Chairman
Age: 52
Chief Financial Officer and Senior Vice President
Age: 62
Chief Operating Officer and Executive Vice President
Vice President of Finance and Accounting
Compensation as of Fiscal Year 2014.

The Options Clearing Corporation Key Developments

Options Clearing Corp. Announces Executive Appointments

Options Clearing Corp. announced that it appointed Scot Warren as executive vice president of business development and the Options Industry Council. Additionally, the company hired David Prosperi as first vice president of public relations and Patricia Overstreet­-Miller as first vice president of corporate communications. Warren previously served as senior managing director of equity products and index services at CME Group Inc. Prosperi previously served as vice president of global public relations at Aon Plc, while Overstreet­-Miller was the top communications executive in North America for Zurich Insurance Co.

Options Clearing Corp. Appoints John Grace as Executive Vice President and Chief Risk Officer

Options Clearing Corp. announced on January 20, 2014 that John Grace joined the company as executive vice president and chief risk officer. Grace was previously a senior managing director at American International Group Inc., where he served in enterprise risk management, strategic planning, and global treasury and capital markets.

Options Clearing Corp. Announces Executive Promotions

Options Clearing Corp. announced seven officer promotions, as the company is reorganizing to meet the increased expectations of regulators and market participants for systemically important clearing houses. Jim Kustusch was promoted to senior vice president of operations to oversee the national operations, corporate actions, membership services, collateral services, project management and product development areas. Kustusch will also oversee management of the newly formed business operations and controls group. He was previously first vice president of business operations. Carole Bovard was promoted to first vice president of compliance from vice president of compliance. Among others, Dan Busby was promoted to first vice president of business operations and management controls from vice president of the project management office. In his new role, he will continue to oversee the project management office while also assuming responsibility for the newly formed business controls group as well as deployment, external and internal certification testing, technical writing, release management and remediation management.

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