Clearing systems ready for March 26 launch of CBOE Futures Exchange.
The Options Clearing Corporation(OCC) and The Clearing Corporation(CCorp) have completed implementation and testing of all necessary systems for the scheduled March 26 launch of the CBOE Futures Exchange(CFE) by the Chicago Board Options Exchange(CBOE).
According to a recently signed agreement, OCC will serve as the main clearinghouse for CFE and provide the following services: acting as a guarantor, overseeing clearing fund and margin deposits, facilitating margin and settlement obligations, managing post-trade transactions, processing and disseminating trade data and offering 24-hour member- support services.
Meanwhile, CCorp will provide a full range of futures post-trade execution services to CFE. Firms that trade at CFE will employ CCorp's New Trade Management and Allocation Claim Transaction systems, as well as its GAINS applications and MQM messaging through its customer network to process transactions.