The Options Clearing Corporation
Could not find a ticker for this position, may be a filing error
A Chicago-based clearinghouse that stands in the middle of nearly every U.S. options trade, acting as the buyer to every seller and the seller to every buyer so contracts are guaranteed. It began in 1973 as the clearing arm of the Chicago Board Options Exchange, the first U.S. exchange to list options, and was renamed the Options Clearing Corporation that same year. A fun quirk: investors rarely notice it, yet it quietly backs just about every exchange-listed options contract traded in the country.