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OCC, OIC Announce New Volume Records

Chicago—October 19, 2004

The Options Clearing Corporation (OCC) and The Options Industry Council (OIC) announced today new annual records for total and equity options volume.

Volume highlights include:

  • Year-to-date total options volume on Oct. 15 hit 911,995,006 contracts and set a new annual record for total options. This volume surpasses 2003's record of 907,858,665 total options contracts and represents the fifth highest day on record.
  • Year to date average daily volume is 4.5 million total contracts vs. 3.6 million contracts for the annual average daily volume in 2003.
  • Equity options hit a new annual record on October 15, at 835,047,806 contracts traded, exceeding the 2003 record of 830,308,227 contracts. The volume on Oct. 15 is also the fifth highest volume day for equity options.
  • Year to date equity average daily volume is 4.1 million contracts vs. 3.2 million contracts for the annual equity average daily volume in 2003.
  • Open interest also set a new high on Oct. 15. At these new high points, total options open interest reached 164,565,124 contracts and equity open interest reached 153,896,467 contracts.

"Options volume began its run toward record-breaking heights in January and has continued the entire year. Accomplishing an all-time high in total options volume in October is an exciting milestone for the entire options industry," said Wayne P. Luthringshausen, OCC Chairman and CEO.

"The constant records in volume and open interest supports the growth and versatility of the options product," said Paul Stevens, President, OIC. "We encourage investors to continue their options education with OIC's different offerings and to utilize options for different market conditions."

OCC Background

OCC, founded in 1973, is the largest clearing organization in the world for options and was the first clearing house to receive a 'AAA' credit rating from Standard & Poor's Corporation. In 2003, OCC's average daily options volume was 3.6 million contracts and average daily premium settlements were $1.1 billion. Operating under the jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission, OCC provides clearing and settlement services for the American Stock Exchange, the Boston Options Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, One Chicago, NQLX, Pacific Exchange, Philadelphia Stock Exchange and Philadelphia Board of Trade. More information about OCC is available through its Web site at www.optionsclearing.com.

OIC Background

OIC is a non-profit association funded by the American Stock Exchange, Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. OIC's resources include: The Options Industry Services call center at 1-888-OPTIONS, an educational Web site at www.888options.com, evening seminars throughout the continental United States and Canada, instructional videos and educational literature and software.

Press Contact

Debbie Baratz
312-322-6267
dbaratz@theocc.com

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