Definition of OCC

The "Options Clearing Corporation" or "OCC" is the world's largest equity derivatives clearing organization. By acting as guarantor, the OCC ensures that the obligations of the equity derivative contracts it clears are fulfilled. OCC operates under the jurisdiction of the SEC and the Commodities Futures Trading Commission (CFTC). The OCC clears transactions for put and call options on common stocks and other equity issuances, stock indexes, foreign currencies, and various futures. As a registered Derivatives Clearing Organization (DCO) under CFTC jurisdiction, the OCC also offers clearing and settlement services for transactions in futures and options on futures. OCC's participant exchanges include: American Stock Exchange, Chicago Board Options Exchange, International Securities Exchange, NYSE Arca, Philadelphia Stock Exchange, and the Boston Stock Exchange. More information can be found at the OCC Web site at .