OCC launches clearing services for MIAX Futures Exchange

The Options Clearing Corporation launched clearing and settlement services for MIAX Futures Exchange, LLC on May 17. MIAX Futures began listing Bloomberg equity index futures with OCC providing clearing services.

MIAX Futures is owned by Miami International Holdings, Inc. (NYSE: MIAX). With this addition, OCC now provides clearing and settlement services to 21 exchanges and trading platforms for options, futures and securities lending transactions.

"MIAX Futures is now live, and we're proud to welcome them as the fifth participant exchange under the MIAX name," said Andrej Bolkovic, chief executive officer at OCC.

OCC describes itself as the world's largest equity derivatives clearing organization and operates as a Systemically Important Financial Market Utility under the jurisdiction of the Securities and Exchange Commission, Commodity Futures Trading Commission, and Federal Reserve Board of Governors.

Thomas P. Gallagher, chairman and chief executive officer at MIAX, said the clearing arrangement represents a step forward for MIAX Futures market participants. The Bloomberg equity index futures products trade on the MIAX Futures Onyx trading platform.

OCC has more than 100 clearing members and was founded in 1973. The information is based on a company press release.

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