The Options Clearing Corporation (OCC), a Chicago clearing house, has added MIAX Sapphire as its newest participant exchange, bringing the total number of exchanges and trading platforms it supports to 21. This addition extends OCC’s clearing and settlement services across a broad range of transactions, including options, futures, and securities lending, according to OCC’s press release.
MIAX Sapphire, a subsidiary of Miami International Holdings (MIH), launched its electronic exchange on 12 August. The exchange aims to cater to clients’ growing demands for enhanced access to options liquidity.
Thomas Gallagher, chairman and CEO of MIH, highlights the significance of the launch, noting that MIAX Sapphire is the company’s fourth US options exchange. According to Gallagher, this expansion allows their market participants to access 100 per cent of the multi-listed options market, leveraging proprietary technology designed to boost liquidity and improve price discovery.
OCC’s CEO, Andrej Bolkovic, expresses satisfaction with the new partnership, emphasising OCC’s role as the central counterparty clearing house for all US-listed options.
