The Options Clearing Corporation · Chicago, IL United States
Company Description
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This link will open in a new window On a clear day, you can see Chicago, home to The Options Clearing Corporation (OCC), the world's largest equity derivatives clearinghouse. The OCC serves some 130 broker-dealers, futures commission merchants, and securities firms in the US and abroad. It is owned by options trading participants NYSE Alternext , Chicago Board Options Exchange , International Securities Exchange Holdings , and Nasdaq OMX PHLX . The OCC also manages the Options Industry Council, a not-for-profit organization sponsored by several securities and options exchanges to educate investors and brokers about the options industry. The OCC was founded in 1973. To read the full description, subscribe now.
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Key The Options Clearing Corporation Financials
| Company Type | Private Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $111.1 |
| Employees | 338 |
The Options Clearing Corporation Executives
24 executives listed for The Options Clearing Corporation's Chicago, IL location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Wayne Luthringshausen | Network |
| Vice Chairman | George Hender | Network |
| President and COO | Michael Cahill | Network |
Competition
Competitive Landscape for The Options Clearing Corporation
Demand is driven by economic activity that results in company mergers, acquisitions, or public financing. The profitability of an investment bank depends on its ability to accurately assess both the value of a business transaction and the readiness of the market to buy the attendant debt or equity. Big firms have an advantage because large customer transactions require firms with substantial financial resources. Small investment banks can compete by participating in syndications and operating in regional markets or specialized industries. Although labor-intensive, the industry produces very high value: average annual revenue per employee at large firms is under $1 million. The global financial crisis of 2008-2009 dramatically altered the landscape of the investment banking industry. Morgan Stanley and Goldman Sachs, the only large firms still intact, have changed their status from investment banks to bank-holding companies. Both firms still engage primarily in investment banking, but former industry leaders such as Bear Stearns, Merrill Lynch, and Lehman Brothers have either been acquired or have filed for bankruptcy protection. The demise of these firms and the late 2000s recession have likely ushered in a new era in which the creation of innovative but risky financial instruments will be replaced by more traditional banking services. The new environment also means more industry oversight by the federal government, which had to step in and bail out dozens of financial services firms with billions of dollars of taxpayers' money. To read the full description, subscribe now.Top The Options Clearing Corporation Competitors
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