OCC to clear OTC options
OCC wants to open the service in summer 2011, subject to regulatory approval.
The move is significant, as it will bring one of the world’s most sophisticated clearing houses into the OTC market for the first time. OCC operates a centralised clearing house for trades at all eight US options exchanges, as well as some other markets.
So far, most of the attention in the debate over OTC clearing has focussed on the biggest parts of the market – interest rate swaps, credit default swaps and foreign exchange.
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