Clearing

 

The Options Clearing Corporation

OneChicago trades are cleared at the AA+ rated Options Clearing Corporation (OCC), which functions as a central counterparty (CCP) to each trade participant. Firms that are approved to clear Single Stock Futures at OCC are qualified to trade for their firm and for customers at OneChicago.
 
OCC Clearing Contact
Sheila Zak
1-312-322-1665
szak@theocc.com
 
CMTA and Post-trade Give Ups
OneChicago supports CMTA (Clearing Member Trade Assignment) and post-trade Give Ups/Allocations for all OneChicago products.

  • A CMTA agreement allows a transaction to be automatically moved from the executing firm into an account of a carrying firm, so long as the executing and carrying firms have an effective CMTA agreement registered with OCC for OneChicago. The destination firm must be supplied at the time of order entry or billateral trade submission (pre-trade).
  • A “Give Up” or “Allocation” allows a transaction by the executing firm to be turned over to the client’s carrying firm. Give Ups/Allocations are often used to consolidate many small orders or to dispense large ones. Allocations are designated post-trade at OCC.
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    Physical Delivery

    All open shorts at the close of business on expiration day deliver stock and all long open interest pay for the delivered stock. The delivery process occurs through the National Securities Clearing Corporation (NSCC), the central counterparty clearing house for all US equities and the related Depository Trust Company (DTC) where the actual settlement occurs. The Options Clearing Corporation (OCC) and the NSCC guarantee delivery and payment of all OneChicago physically settled futures.

    Additional Links

  • The Depository Trust & Clearing Corporation (DTCC)
  • The Options Clearing Corporation (OCC)
  • OCC By-Laws and Rules
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    For more information regarding types of products and their delivery cycles visit products.

     

    T + 1 Delivery

    Stock delivery and payment occur on the first business day after expiration.

    t1_flowchart

     

    T + 3 Delivery

    Stock delivery and payment occur on the third business day after expiration.

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