The OCC, or Options Clearing Corporation, is an organization that acts as both the issuer and guarantor for U.S. securities options and futures contracts listed by its participant exchanges. By acting as guarantor, OCC ensures that the obligations of the contracts it clears are fulfilled. OCC operates under the jurisdiction of both the SEC and the CFTC.
What is the OCC?
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What is ACATS?
The Automated Customer Account Transfer Service (ACATS) is the National Securities Clearing Corporation's (NSCC) central processing system for the transfer of positions and accounts between US brokerage firms that are participants in the NSCC's ACATS program…
How are the closing prices for U.S. listed securities options determined?
The prices which we use to mark U.S. listed securities options as of the close of business each day (both TWS and statements) originate from the Options Clearing Corporation (OCC). As the sole clearinghouse for these option products, OCC generates a closing price for each option contract in order to calculate the margin required of its members on whose behalf it clears transactions and also to supply the risk arrays used by brokers carrying portfolio margin accounts…
Why can't I open a new position in an Adjusted Basket option?
After a corporate action, the Options Clearing Corp (OCC) may create a new underlying for open option contracts to represent the Adjusted Basket underlying that can include the new stocks and/or cash. IBKR only allows closing orders for an option contract that had the underlying deliverable adjusted by the Options Clearing Corp (OCC). The OCC publishes Information Bulletins outlining the terms of adjustments on its…
Why is interest not payable on cash held in the commodities segment of my account?
For accounts contracted by the triparty agreement and carried by IBLLC in the US the account is authorized to trade both securities products and commodities/futures products and therefore consists of two underlying accounts or account segments: a securities account ("IBKR securities") governed by rules of the U.S. Securities and Exchange Commission (SEC) and a futures account ("IBKR futures") governed by rules of the U.S. Commodity Futures Trading Commission (CFTC)…