The Options Clearing Corporation (OCC) has begun providing clearing and settlement services for MIAX Futures following the launch of Bloomberg equity index futures on 17 May, reports Businesswire.
MIAX Futures is owned by Miami International Holdings and uses the MIAX Futures Onyx trading platform. OCC said the addition brings the number of exchanges and trading platforms it clears for to 21.
Clearing and margining
Under the arrangement, OCC will clear the new futures products listed on the exchange.
OCC chief executive Andrej Bolkovic said participants on MIAX Futures will have access to the clearing house’s existing clearing, risk management and cross-margining services from launch.
MIAX chairman and chief executive Thomas P. Gallagher said the clearing setup is expected to provide capital efficiencies for firms trading the futures products.
The announcement expands the existing relationship between OCC and the MIAX group, which already operates options markets in the US.
