Mission: We promote stability and market integrity through effective and efficient clearance, settlement and risk management services while providing thought leadership and education to market participants and the public about the prudent use of products we ...
We promote stability and market integrity through effective and efficient clearance, settlement and risk management services while providing thought leadership and education to market participants and the public about the prudent use of products we clear.
Innovation & Agility: We lead and embrace change.
Stewardship: We serve industry participants and the greater public interest.
Collaboration: We build success together.
Performance & Accountability: We own the outcomes.
Ethics & Integrity: We do the right thing.
Craig S. Donohue
Executive Chairman and Chief Executive Officer
Craig S. Donohue is Executive Chairman and Chief Executive Officer of OCC. OCC is the world's largest equity derivatives clearing organization and the foundation for secure markets.
Mr. Donohue joined OCC as Executive Chairman in January 2014 with the goal to lead transformational change across the organization in light of OCC's designation as a Systemically Important Financial Market Utility (SIFMU) by the Financial Stability Oversight Council. His three-part strategy is focused on: 1) enhancing OCC's resiliency to systemic risk; 2) strengthening OCC's capital structure to ensure loss absorption and recovery capabilities, and; 3) reinvigorating OCC's leadership team to create a more engaged organization. Mr. Donohue is very active in building and strengthening relationships with market participants such as owner and participant exchanges, clearing member firms, and public customers, as well as with lawmakers, regulators and policymakers. He also plays a leadership role in promoting the importance of the listed options market to the U.S. and global economy through the Options Industry Council.
In 2010, Mr. Donohue was selected as one of the world's 50 best-performing CEOs by the Harvard Business Review. He is also the subject of a Harvard Business School case study published in 2011 for his excellence in strategy formulation and execution. In 2009, Mr. Donohue was named to Institutional Investor Magazine's Power 50 list of the World's Most Influential People in Finance and was also recognized as The International Executive of the Year by the Executives' Club of Chicago.
Mr. Donohue is an active leader in national and local civic and philanthropic efforts. He is a past Board member and Chairman of the Council for Economic Education. He is also a past Board member and Chairman of the Executives' Club of Chicago and previously served as a director of the Chicago Council on Global Affairs.
Mr. Donohue holds a Masters of Management degree from Northwestern University's Kellogg Graduate School of Management, a Masters of Law degree in Financial Services Regulation from IIT Chicago-Kent College of Law, a Juris Doctor degree from The John Marshall Law School, and a Bachelor of Arts degree in political science and history from Drake University.
John P. Davidson
President and Chief Operating Officer
John P. Davidson is the President and Chief Operating Officer at OCC. OCC is the world’s largest equity derivatives clearing organization and foundation for secure markets.
In these roles, Mr. Davidson is responsible for the organization’s Information Technology and National Operations business units. This includes leading the clearinghouse in the work on covered clearing agency rules and SEC Regulation SCI, part of OCC’s responsibilities as a Systemically Important Financial Market Utility (SIFMU).
Mr. Davidson earned an M.B.A. in financial management and international business from the University of Chicago and graduated with highest distinction from the University of Illinois-Urbana with a bachelor's degree in political science.
Executive Vice President and Chief Administrative Officer
Scot Warren is Executive Vice President and Chief Administrative Officer of OCC. OCC is the world's largest equity derivatives clearing organization and the foundation for secure markets.
In this role as part of the Office of the Executive Chairman, Mr. Warren oversees OCC's Finance, Human Resources, Financial Risk Management, Corporate Planning, Product and Business Development, and Project Management Office. He joined OCC in February of 2015 and previously served as Executive Vice President, Business and Product Development where he was responsible for OCC's Business and New Products Development as well as Strategic and Corporate Planning.
Mr. Warren is a frequent speaker at industry conferences and events and previously served on the Board of Directors of S&P Dow Jones Indexes, One Chicago and Illinois Swimming.
Mr. Warren received a Bachelor of Science in Accounting from Pennsylvania State University and a Master of Science in Financial Markets and Trading from Illinois Institute of Technology.
For additional information on our leadership team, please visit Executive Biographies.
A World Class Clearing Organization
OCC, founded in 1973, is the world's largest equity derivatives clearing organization. OCC is dedicated to promoting stability and financial integrity in the marketplaces that it serves by focusing on sound risk management principles. By acting as guarantor, OCC ensures that the obligations of the contracts it clears are fulfilled.
As the marketplace evolves, so do the clearing capabilities at OCC. Although OCC began as a clearinghouse for listed equity options, it has grown into a globally recognized entity that clears a multitude of diverse and sophisticated products. OCC operates under the jurisdiction of both the SEC and the CFTC. As a registered clearing agency under SEC jurisdiction, OCC clears transactions for exchange-listed options, security futures and OTC options. As a registered derivatives clearing organization under CFTC jurisdiction, OCC offers clearing and settlement services for transactions in futures and options on futures. OCC also provides central counterparty clearing and settlement services for securities lending transactions. In addition, OCC has been designated as a "systemically important" financial market utility under Title VIII of the Dodd-Frank Act.
The management of OCC's business affairs is vested in its Board of Directors which includes diverse representation from exchanges, clearing members, public directors and management. OCC receives most of its revenue from clearing fees charged to its members. OCC offers volume discounts on fees and, as applicable, refunds excess fees to its clearing members.
The Exchanges and Markets We Serve
OCC's participant exchanges include: BATS Exchange, Inc., BOX Options Exchange LLC, C2 Options Exchange, Incorporated, Chicago Board Options Exchange, Incorporated, EDGX Exchange, Inc., International Securities Exchange, LLC, ISE Gemini, LLC, ISE Mercury, LLC, Miami International Securities Exchange, LLC, NASDAQ OMX BX, Inc., NASDAQ OMX PHLX, LLC, The NASDAQ Stock Market LLC, NYSE MKT LLC, and NYSE Arca, Inc. OCC's clearing members serve both professional traders and public customers and comprise approximately 115 of the largest U.S. broker-dealers, futures commission merchants and non-U.S. securities firms. OCC's goal is to service clearing members and the exchanges through an operating plan that emphasizes timely, reliable and cost-efficient clearing operations.
OCC also serves other markets, including those trading commodity futures, commodity options, and security futures. OCC clears futures contracts traded on CBOE Futures Exchange, LLC, ELX Futures, LP, and Nasdaq Futures, Inc., as well as security futures contracts traded on OneChicago, LLC. In addition, OCC provides central counterparty services for two securities lending market structures, OCC's OTC Stock Loan Program and Automated Equity Finance Markets, Inc. (AQS), an automated marketplace for securities lending and borrowing.
Opportunities for Career Growth
OCC places a strong emphasis on career development and offers many opportunities for development through formal training programs, a mentor program and developmental assignments/projects. Several positions throughout OCC offer potential for growth within career ladders (i.e., Application Developer, Senior Application Developer, Lead Application Developer) based on performance and attainment of skills. OCC promotes from within the organization when feasible. We are proud of our many success stories of employees joining OCC in entry-level positions and earning their way into executive level positions.
OCC has a generous tuition reimbursement program. Many employees have taken advantage of this great benefit and have received Bachelor’s and Master’s Degrees. OCC encourages employees to enhance their career development through formal education.
OCC is a very technical organization — approximately two-thirds of our employees are in Information Technology (IT). Technical training is offered to OCC employees to keep current with our ever-changing technical environment. This training is offered either onsite or via public classes on an individual or group basis.
Educational Programs on the Options Industry
OCC offers a training program for all employees called “Options Community College”. This program provides a comprehensive look at OCC’s operations and the options industry. Nearly all of our employees have attended this program. The classes are taught by our internal experts. This program covers a wide variety of topics including an introduction to the financial markets, an internal view of OCC’s operations/business, the clearing process and risk management.
You can learn almost everything there is to know about the options industry by taking advantage of the no cost educational programs offered by the Options Industry Council. Options are a versatile but complex product. To help understand this complex product, OIC conducts hundreds of seminars and webcasts throughout the year, distributes thousands of interactive DVDs and brochures, and maintains a Web site and Investor Services department focused on options education.
OCC continually provides a variety of development opportunities for our experienced and new leaders. Several classes are held onsite each year to help leaders develop their skills. Employees in leadership roles are also encouraged to pursue external programs of interest to them.
Below is a picture of a teambuilding event for our Technology Services group where teams built children’s bikes... the bikes were donated to The Maywood Fine Arts Association which provides arts education to children in a community with few after-school resources...
I have been working at OCC full-time
Very good place to work
Nothing really to say in terms of cons
Advice to Management
They are doing good
I applied through college or university. The process took 6 weeks. I interviewed at OCC (Chicago, IL) in April 2017.
It was awesome! There was a little delay in the whole process but in the end I had a very awesome in person interview for the position. They are very welcoming and kind. The only real negative is that I did not end up meeting with everyone they said I would meet with.