OCC is acting as the stock derivatives clearing institution, having been established in 1973. By concentrating on strong risk management principles, OCC is committed to promoting stability and financial integrity in the marketplaces it serves. OCC ensures that the commitments of the contracts it clears are met by serving as guarantor. OCC's clearing capabilities improve in tandem with the marketplace. OCC began as a clearinghouse for listed stock options, but it has now evolved into a worldwide recognized body that clears a wide range of sophisticated products. The SEC and the CFTC both have jurisdiction over the OCC. OCC clears transactions for exchange-listed options, securities futures, and over-the-counter options as a registered clearing agency under SEC authority. The OCC's business concerns are managed by its Board of Directors, which includes exchanges, public directors, clearing members and management representatives.
What departments OCC employees work at?
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