The Options Clearing Corporation
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One of the world's largest clearing organizations, the OCC stands between buyers and sellers of options and futures on U.S. exchanges, guaranteeing that every contract gets fulfilled. Born in 1973 as the clearing arm of the Chicago Board Options Exchange, it became an independent utility two years later, renamed The Options Clearing Corporation. A fun twist: its name is simply pronounced "the OCC" — a nod to its role as the central authority for U.S. options clearing.
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