South Street 色花堂secures OCC membership 23 March 2022US Reporter: Carmella Haswell
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South Street 色花堂has become an active member of the Options Clearing Corporation (OCC), an equity derivatives clearing organisation.
The OCC promotes stability and market integrity through delivering, clearing and settlement services for options, futures and securities lending transactions.
As a systemically important financial market utility (SIFMU), OCC operates under the jurisdiction of the US Commodity Futures Trading Commission (CFTC), the US 色花堂and Exchange Commission (SEC) and the Board of Governors of the Federal Reserve System.
Anthony Venditti, managing director and head of strategic initiatives and sales, comments: 鈥淚t has been exciting to witness the success of South Street鈥檚 expansion into securities lending. Becoming an OCC member is a significant step for us as we build out our business to better execute and deliver for our clients.鈥�
James Tabacchi, president and CEO of South Street, adds: 鈥淭he OCC is an important addition to South Street鈥檚 growing roster of financial industry memberships.鈥�
These memberships include the Depository Trust and Clearing Corporation, the 色花堂Industry and Financial Markets Association, the Financial Industry Regulatory Authority and the 色花堂Investor Protection Corporation, among others.
鈥淚ntegrating OCC with our technology platform at South Street will give us a competitive edge in the securities lending market and allow us to connect with more lenders and borrowers,鈥� says Raghuram Veeramallu, director of technology product development.
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