Options Clearing Corporation

Vermiculus delivers Microservice-based VeriClear™ Solution to OCC

Retrieved on: 
Wednesday, January 24, 2024

As part of OCC's ongoing development of its forthcoming platform, Ovation, OCC chose Vermiculus' modern and flexible solution with its superior microservices architecture that allows for deployment of a selection of microservices and applying changes on the fly.

Key Points: 
  • As part of OCC's ongoing development of its forthcoming platform, Ovation, OCC chose Vermiculus' modern and flexible solution with its superior microservices architecture that allows for deployment of a selection of microservices and applying changes on the fly.
  • "The way that Vermiculus' designed their risk application fit very nicely with the modular design and use of real-time data in OCC's new Ovation platform," says John Martino, Managing Director at OCC.
  • "For us at Vermiculus, OCC is an ideal customer as we share a visionary mindset of utilizing transformative and modern technology.
  • Taraneh Derayati, Chief Executive Officer of Vermiculus; John Martino, Managing Director at OCC

Vermiculus delivers Microservice-based VeriClear™ Solution to OCC

Retrieved on: 
Wednesday, January 24, 2024

As part of OCC's ongoing development of its forthcoming platform, Ovation, OCC chose Vermiculus' modern and flexible solution with its superior microservices architecture that allows for deployment of a selection of microservices and applying changes on the fly.

Key Points: 
  • As part of OCC's ongoing development of its forthcoming platform, Ovation, OCC chose Vermiculus' modern and flexible solution with its superior microservices architecture that allows for deployment of a selection of microservices and applying changes on the fly.
  • "The way that Vermiculus' designed their risk application fit very nicely with the modular design and use of real-time data in OCC's new Ovation platform," says John Martino, Managing Director at OCC.
  • "For us at Vermiculus, OCC is an ideal customer as we share a visionary mindset of utilizing transformative and modern technology.
  • Taraneh Derayati, Chief Executive Officer of Vermiculus; John Martino, Managing Director at OCC

Innovator Brings Greater Versatility with Launch of Eight New Defined Outcome ETFs

Retrieved on: 
Monday, October 2, 2023

There are material differences between traditional fixed income asset classes and the Innovator Income ETFs, which seek to provide a high level of income.

Key Points: 
  • There are material differences between traditional fixed income asset classes and the Innovator Income ETFs, which seek to provide a high level of income.
  • The NAV of Income ETFs is tied to the underlying options on the S&P 500, a broad-based measure of the large cap U.S. equity market.
  • The funds only seek to provide their investment objective, which is not guaranteed, over the course of an entire outcome period.
  • Following the initial outcome period, each subsequent outcome period will begin on the first day of the month the funds were incepted.

DriveWealth appoints NYSE Executive Michael Blaugrund to CEO

Retrieved on: 
Tuesday, August 8, 2023

JERSEY CITY, N.J., Aug. 8, 2023 /PRNewswire/ -- DriveWealth , the innovative global fintech with the mission to empower investing for all, has announced the appointment of Michael Blaugrund as Global Chief Executive Officer (CEO).

Key Points: 
  • JERSEY CITY, N.J., Aug. 8, 2023 /PRNewswire/ -- DriveWealth , the innovative global fintech with the mission to empower investing for all, has announced the appointment of Michael Blaugrund as Global Chief Executive Officer (CEO).
  • Robert Cortright, the DriveWealth founder and current CEO, will transition to the role of Executive Chairman in which he will continue to shape the strategic vision at DriveWealth.
  • Blaugrund joins DriveWealth from the New York Stock Exchange (NYSE) where he most recently served as Chief Operating Officer, overseeing strategy and operations of the NYSE Group's five equity exchanges and two options exchanges.
  • Cortright expressed his excitement about Michael joining the team, stating, "Michael is the best possible leader to take DriveWealth to the next stage and build on our foundation.

Innovator Announces Launch of Equity Defined Protection ETF

Retrieved on: 
Tuesday, July 18, 2023

CHICAGO, July 18, 2023 (GLOBE NEWSWIRE) -- Innovator Capital Management , LLC (Innovator), pioneer and provider of the largest lineup of Defined Outcome ETFs, today announced the launch of the Equity Defined Protection ETF (TJUL).

Key Points: 
  • CHICAGO, July 18, 2023 (GLOBE NEWSWIRE) -- Innovator Capital Management , LLC (Innovator), pioneer and provider of the largest lineup of Defined Outcome ETFs, today announced the launch of the Equity Defined Protection ETF (TJUL).
  • With the availability of these strategies now in the ETF structure, investors have flocked to defined outcome ETFs, bringing Innovator’s suite to over $13 billion in AUM (as of 7/17/2023).
  • The Equity Defined Protection ETF expands Innovator’s industry-leading range of defined outcome offerings.
  • With this strategy, Innovator hopes to help investors shift their portfolios for downside risk, without having to sacrifice equity market exposure by moving to cash.

Innovator Announces Launch of Second Series of Premium Income Barrier ETFs™ and Upside Caps on Defined Outcome ETFs™

Retrieved on: 
Saturday, July 1, 2023

The Outcomes may only be realized by investors who continuously hold Shares from the commencement of the Outcome Period until its conclusion.

Key Points: 
  • The Outcomes may only be realized by investors who continuously hold Shares from the commencement of the Outcome Period until its conclusion.
  • There are material differences between traditional fixed income asset classes and the Innovator Barrier ETFs, which seek to provide a high level of income.
  • The value of fixed income products is tied to the value of the fixed income instruments the products hold.
  • Within a corporate capital structure, equity is generally subordinate to fixed income assets and, as such, carries a higher level of risk than fixed income assets.

Innovator Announces Upside Cap Ranges on 17 Defined Outcome ETFs™ and Listing of Four New Premium Income Barrier ETFs™

Retrieved on: 
Monday, June 26, 2023

The Outcomes may only be realized by investors who continuously hold Shares from the commencement of the Outcome Period until its conclusion.

Key Points: 
  • The Outcomes may only be realized by investors who continuously hold Shares from the commencement of the Outcome Period until its conclusion.
  • There are material differences between traditional fixed income asset classes and the Innovator Barrier ETFs, which seek to provide a high level of income.
  • The value of fixed income products is tied to the value of the fixed income instruments the products hold.
  • Within a corporate capital structure, equity is generally subordinate to fixed income assets and, as such, carries a higher level of risk than fixed income assets.

Surfin Meta Digital Technology Pte Ltd (“Surfin”) Welcomes John Quelch and John Fennell to its Board of Directors

Retrieved on: 
Friday, April 14, 2023

Surfin group of companies (“Surfin Group”), headquartered in Singapore, a leading provider of digital financial solutions for under-serviced clients in emerging markets, is pleased to announce the appointments of John Quelch and John Fennell to its Board of Directors.

Key Points: 
  • Surfin group of companies (“Surfin Group”), headquartered in Singapore, a leading provider of digital financial solutions for under-serviced clients in emerging markets, is pleased to announce the appointments of John Quelch and John Fennell to its Board of Directors.
  • As a member of Surfin’s board of directors, Quelch brings a wealth of experience in corporate governance, strategic planning, and ESG initiatives.
  • "I am excited to join Surfin Group's board of directors and to work with the company's talented leadership team," said Quelch.
  • Yanan Wu, CFA, Ph.D, Chairman of Surfin Group, expressed the company's enthusiasm about the appointments of Dr. Quelch and Mr. Fennell: "We are thrilled to welcome both John Quelch and John Fennell to our Board of Directors.

Innovator Announces the Launch of Premium Income Barrier ETFs™

Retrieved on: 
Monday, April 3, 2023

There are material differences between traditional fixed income asset classes and the Innovator Barrier ETFs, which seek to provide a high level of income.

Key Points: 
  • There are material differences between traditional fixed income asset classes and the Innovator Barrier ETFs, which seek to provide a high level of income.
  • The value of fixed income products is tied to the value of the fixed income instruments the products hold.
  • Within a corporate capital structure, equity is generally subordinate to fixed income assets and, as such, carries a higher level of risk than fixed income assets.
  • There is no guarantee that the Fund will be successful in its attempt to implement the Barrier.

SEC Charges Options Clearing Corporation with Rule Failures

Retrieved on: 
Thursday, February 16, 2023

Washington, D.C.--(Newsfile Corp. - February 16, 2023) - The Securities and Exchange Commission today announced that The Options Clearing Corporation (OCC) will undertake remedial efforts and pay $17 million in penalties to settle charges that it failed to comply with its SEC-approved Stress Testing and Clearing Fund Methodology rule during certain times between October 2019 and May 2021.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - February 16, 2023) - The Securities and Exchange Commission today announced that The Options Clearing Corporation (OCC) will undertake remedial efforts and pay $17 million in penalties to settle charges that it failed to comply with its SEC-approved Stress Testing and Clearing Fund Methodology rule during certain times between October 2019 and May 2021.
  • The SEC’s order further finds that OCC failed to modify its Comprehensive Stress Testing System and did not provide timely notification to the SEC of this failure as required by Regulation SCI.
  • "OCC is the sole registered clearing agency for exchange listed option contracts in the United States," said Chair Gary Gensler.
  • The SEC appreciates the assistance of the Commodity Futures Trading Commission.