CHICAGO--(BUSINESS WIRE)--OCC, the world's largest equity derivatives clearing organization, today announced the following updates to its Board of Directors:
- Craig Donohue, OCC Executive Chairman since 2014, has transitioned to Chairman while OCC Chief Executive Officer, Andrej Bolkovic, has joined the board. In Donohue’s continuing role as Chairman of the Board, he will remain integrally involved with oversight and governance at OCC.
- OCC’s Board of Directors has appointed Roland Chai, Nasdaq’s President of European Market Services. Chai brings more than 20 years of experience in technology, risk management, trading and post-trade across multiple asset classes. In his current role, he leads Nasdaq's multi-asset trading, clearing, listings and market services businesses across Europe. Previously, Chai led Nasdaq’s Marketplace Technology business; he joined the exchange in the role of Global Chief Risk Officer in 2020. Chai fills the seat vacated by Meyer “Sandy” Frucher, retired Nasdaq Vice Chairman. Frucher became an Exchange Director in September 1998 and was OCC’s longest-serving board member.
“On behalf of our Board of Directors, we are pleased to welcome Andrej Bolkovic to the Board as part of our transition to a non-executive chair governance structure,” said Donohue. “Since joining OCC in August 2022, Andrej has proven to be a highly effective CEO, and I look forward to continuing to work with him in leading OCC. We are also pleased to welcome Roland to our board, as he brings a wealth of knowledge in the global listed derivatives industry.”
“In addition, we thank Sandy for the many years of providing his expertise and leadership to OCC’s board,” Donohue added. “His enthusiasm for innovation and promoting evolution in the options markets will be greatly missed.”
Bolkovic said, “We are honored to have leaders on our board with extensive experience and deep commitment to the future of OCC. I have confidence in our ability to help ensure OCC fulfills its mission of providing stability and market integrity through delivering our critical clearing and settlement capabilities to our clearing members, participant exchanges, and the greater investing public.”
About OCC
The Options Clearing Corporation (OCC) is the world's largest equity derivatives clearing organization. Founded in 1973, OCC is dedicated to promoting stability and market integrity by delivering clearing and settlement services for options, futures and securities lending transactions. As a Systemically Important Financial Market Utility (SIFMU), OCC operates under the jurisdiction of the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), and the Board of Governors of the Federal Reserve System. OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 20 exchanges and trading platforms. More information about OCC is available at www.theocc.com.
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