Options Information Center To Open In July OIC Experts to Continue Educating Investors and Brokers

ChicagoMay 5, 2000

The Options Industry Council (OIC) and The Options Clearing Corporation (OCC) announced today that a comprehensive Options Information Center is scheduled to begin operation on July 3, 2000 for brokers and retail investors interested in obtaining one-on-one information about options.

The information center will be available Monday through Thursday from 8 a.m. to 5 p.m. (CST), and on Fridays from 8 a.m. to 4 p.m. On expiration Fridays, the center will remain open until 5 p.m.

By calling 1-888-OPTIONS or sending e-mail to options@theocc.com, individuals will be able to:

  • Place orders for OIC educational videos, software and brochures, as well as register for free OIC-sponsored seminars held nationwide and in Canada.
  • Obtain specific information on any options product that OCC clears. This includes all products traded at the exchanges that currently make up OIC (The American Stock Exchange, Chicago Board Options Exchange, Pacific Exchange and Philadelphia Stock Exchange).
  • Receive answers from industry professionals on basic questions about options, such as defining industry terms, providing product information, and discussing basic risks and benefits associated with trading options.
  • Discuss more complex or operational situations with industry experts including advanced trading strategies, as well as answer questions regarding specific options trades.

The information center, which previously existed at the Chicago Board Options Exchange, will now be operated and funded by OCC.

"By having one information center for the entire options industry, investors will now have access to a wide range of information in one call," said Paul Stevens, who serves as President of both OIC and OCC. "This move actively supports our effort to provide investors with the information that they need to make responsible and well-informed decisions when trading options."

The Options Industry Council is a non-profit organization founded in 1992 by the nations options exchanges to provide investor education about the equity options industry. Today, its members include The American Stock Exchange, Chicago Board Options Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. OIC's free educational programs include: an educational Web site at www.optionscentral.com, evening seminars throughout the continental United States and Canada, instructional videos, educational brochures and interactive software. More information on these resources is available by visiting the Web site or calling 1-800-952-8665. Effective July 3, 2000, this number will change to 1-888-OPTIONS.

OCC is the largest clearing organization in the world for financial derivatives and the first clearinghouse to receive a "AAA" credit rating from Standard & Poor's Corporation. OCC is jointly owned by The American Stock Exchange, Chicago Board Options Exchange, Pacific Exchange and Philadelphia Stock Exchange.

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