Company Overview of The Options Clearing Corporation
The Options Clearing Corporation provides equity derivatives clearing services. The company offers central counterparty clearing and settlement services to exchanges; and trading platforms for options, financial futures, security futures, and securities lending transactions. It clears transactions for exchange-listed options, security futures and OTC options; provides information memos, industry services, business development, tax basis reporting, and certification testing services; provides membership and market data services; and facilitates consulting services. The company also provides risk management services, such as margin methodology, default rules and procedures, cross margin progra...
One North Wacker Drive
Chicago, IL 60606
Founded in 1972
Key Executives for The Options Clearing Corporation
President and Chief Operating Officer
Chief Financial Officer and Senior Vice President
Chief Information Officer & Senior VP
Senior Vice President, General Counsel and Corporate Secretary
Compensation as of Fiscal Year 2017.
The Options Clearing Corporation Key Developments
OCC Appoints Amy McCormick as First Vice President, Financial Risk Management
Jun 28 17
OCC announced the appointment of Amy McCormick, formerly with the National Futures Association, as First Vice President, Financial Risk Management, a new position for the organization. McCormick starts in her new role, and will report to Dale Michaels, Executive Vice President, Financial Risk Management. Prior to joining OCC, McCormick was a Managing Director at the National Futures Association (NFA), where from 2015 to the present she managed a multi-divisional $60 million program to overhaul clearing risk management systems and oversaw examinations, investigations, and risk management teams. Before the NFA, McCormick served as an Executive Director at CME Group in Risk Management from 2012 to 2015 where she led a successful initiative on real-time risk management, which turned a slow batch process into the ability to view exposures on updated positions and prices in under a second to be able to detect, analyze, and mitigate any risk management concerns. McCormick joined CME Group in 2003, where she held a series of roles with increasing responsibilities in risk management, which included the introduction of pre-trade credit controls, which manage the damage an out of-control trading algorithm could inflict on the markets and a clearing member. McCormick also worked from 2002 to 2003 as a Treasury Analyst for Sears, Roebuck, and Co., and from 1997 to 2000 as a consultant for Tetra Tech EM Inc.
Options Clearing Corp. Appoints Mark Morrison as Senior Vice President and Chief Security Officer
May 3 17
Options Clearing Corp. appointed Mark Morrison as senior vice president and chief security officer, a new role. Morrison was recently with State Street Corp. as senior vice president and chief information security officer.
OCC Announces Executive Changes
Apr 17 17
OCC announced that David Hoag will join OCC as Senior Vice President and Chief Information Officer, effective May 1. Hoag, who will report to John Davidson, OCC’s new President and Chief Operating Officer, succeeds Luke Moranda, who becomes Senior Vice President and Senior Information Technology Advisor to the President and COO. Before joining OCC, Hoag served as the Chief Technology Officer for Halo Investing Inc. Previously, Hoag was Chief Technology Officer for NextTier Education. Hoag also spent 11 years with CME Group, most recently leading their information technology development teams responsible for all of its clearing and settlement activities.
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