Straight AA+ for OCC 27 May 2015Chicago Reporter: Stephanie Palmer
Image: Shutterstock
Equity derivatives clearing organisation Options Clearing Corp. (OCC) has retained its AA+ or ‘stable’ rating from Standard & Poor’s.
The result was partly based on the critical function that OCC has in the US capital markets.
Craig Donohue, executive chairman of OCC said: “The report reflects the outstanding work by the management and employees of OCC to strengthen the resiliency, risk management and capitalisation of our company.”
He added: “We understand the importance of continued vigilance and internal oversight in order to strengthen our role as the foundation for secure markets.”
“The work we are doing on regulatory remediation and improving our capital position is very positive for OCC. We will continue to enhance our resiliency, strengthen market protections, and deliver efficiencies for all market participants.”
Standard & Poor’s said in its report: “The stable rating outlook incorporates our expectation that Options Clearing Corp. (OCC) will maintain its cautious risk appetite and preserve the sound quality of its financial safeguards.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 