CHICAGO--(BUSINESS WIRE)--OCC, the world’s largest equity derivatives clearing organization, announced today that it set new annual cleared contract volume records for the U.S. exchange-listed options and futures industry. In 2018, OCC cleared 5.24 billion total contracts and 5.14 billion options contracts. These numbers surpass the previous records, set in 2011, of 4.60 billion total contracts and 4.56 billion options contracts. Compared to 2017, OCC had a 21.1 percent increase in total contracts cleared and a 22.6 percent increase in options contracts cleared.
| Options | Total Contracts | |||||
| Year | Contracts | Cleared (Options | ||||
| Cleared | and Futures) | |||||
| 2011 | 4,562,748,194 | 4,600,955,949 | ||||
| 2012 | 4,003,871,308 | 4,042,175,801 | ||||
| 2013 | 4,111,275,659 | 4,170,855,768 | ||||
| 2014 | 4,265,368,807 | 4,333,019,384 | ||||
| 2015 | 4,143,637,271 | 4,210,542,258 | ||||
| 2016 | 4,063,224,196 | 4,167,747,777 | ||||
| 2017 | 4,189,547,168 | 4,327,576,930 | ||||
| 2018 | 5,137,201,519 | 5,242,089,870 | ||||
“Throughout 2018 OCC delivered operational and capital efficiencies to our participating exchanges, clearing firms, and market users in our role as a systemically important financial market utility. As we look forward to 2019, my OCC colleagues remain committed to strengthening our resiliency and risk management capabilities to ensure confidence in the financial markets and the broader economy, and to continue to clear the path for growth in the U.S. equity options and futures industry,” said John Davidson, OCC President and Chief Operating Officer.
Additionally, last month was the most active December in OCC’s history. Total cleared contract volume reached 436,771,941 contracts in December, up 26.2 percent compared to the December 2017 volume of 346,006,092 contracts.
Options: Overall exchange-listed options volume reached 429,078,216 contracts in December, up 27.7 percent from 335,958,673 in 2017. Equity options volume reached a total of 376,883,978 contracts, a 27.7 percent increase from December 2017. This includes cleared ETF options volume of 197,508,790 contracts last month, a 52.2 percent increase compared to the December 2017 volume of 129,784,607 contracts. Index options volume was up 27.5 percent with 52,194,238 contracts in December, with average daily volume up 12.8 percent for 2018, compared to 2017.
Futures: Futures cleared by OCC reached 7,693,725 contracts in December, down 23.4 percent from December 2017. OCC’s average daily cleared futures volume for 2018 was 417,882 contracts, 24.0 percent less than 2017.
Securities Lending: OCC's securities lending CCP activity was up 3.9 percent in new loans from December 2017 with 107,214 transactions last month. For the year, stock loan activity increased 17.2 percent from 2017, with 1,374,319 new loan transactions in 2018. The average daily loan value at OCC in December was $70,160,856,931.
Note: Beginning in October 2018, OCC adjusted its reporting of stock loan transactions and average daily loan value to better reflect prevailing industry standards. OCC now reports average daily loan value and number of transactions based only on loans; previous reporting was based on both loans and borrows.
For 2018 monthly exchange market share information, click here.
| December | December | December | 2018 Avg. | |||||||||||||||
| 2018 Total | 2017 Total | Total | Avg. Daily | Avg. Daily | Daily Contract | |||||||||||||
| Contract | Contract | Contract % | Contract | Contract | % Change vs. | |||||||||||||
| Volume | Volume | Change vs. | 2018 | 2017 | 2017 | |||||||||||||
| 2017 | ||||||||||||||||||
| Equity Options | 376,883,978 |
295,021,139 |
27.7% | 18,217,061 | 14,697,265 | 23.9% | ||||||||||||
| ETF Options | 197,508,790 | 129,784,607 | 52.2% | 7,995,284 | 6,362,264 | 25.7% | ||||||||||||
| Index Options | 52,194,238 | 40,937,534 | 27.5% | 2,249,877 | 1,994,157 | 12.8% | ||||||||||||
| Total Options | 429,078,216 | 335,958,673 | 27.7% | 20,466,938 | 16,691,423 | 22.6% | ||||||||||||
| Total Futures | 7,693,725 | 10,047,419 | -23.4% | 417,882 | 549,919 | -24.0% | ||||||||||||
| Total Volume | 436,771,941 | 346,006,092 | 26.2% | 20,884,820 | 17,241,342 | 21.1% | ||||||||||||
About OCC
OCC is the world's largest equity derivatives clearing organization and the foundation for secure markets. Founded in 1973, OCC operates under the jurisdiction of both the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency and the U.S. Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organization. Named 2018 Best Clearing House by Markets Media, and Clearing House of the Year – The Americas by FOW, OCC now provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms for options, financial futures, security futures, and securities lending transactions. More information about OCC is available at www.theocc.com
