The world’s largest equity derivatives clearing house, OCC, has appointed ABN AMRO Clearing’s Mike Nowak and Cboe’s Rob Hocking to its board of directors.
Nowak is chief financial officer at ABN AMRO Clearing Chicago, with responsibility for daily management of capital, liquidity, balance sheet and regulatory reporting within the organisation.
In a 20-year career, Nowak spent his early days on the agricultural trading floor Chicago Board of Trade with O’Connor & Company and as a commodity broker with the firm when this became Fortis Clearing Americas LLC.
Subsequently, Nowak has had a wide range of senior operations roles and has served as COO at Fortis Clearing Americas.
As head of multi-asset solutions and derivatives strategy at Cboe Global Markets, Hocking drives the strategic focus for the company’s derivatives ecosystem, coordinating teams responsible for its derivatives microstructure, proprietary products and risk-transfer products and education.
Previously, Hocking was a trading permit holder and member of the Cboe Options Exchange for almost 20 years. Before this, he was global head of equity volatility trading at DRW Trading in Chicago.
OCC indicates that the two appointments fill vacancies that became available on its board of directors in May and July of this year.
