Firewall for Options Market Clears SEC Hurdle for Capital Plan
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A plan to bolster the financial strength of the U.S. options market’s backstop that has drawn criticism from some exchanges and traders cleared a regulatory hurdle.
The Securities and Exchange Commission on Thursday lifted a stay on a plan by Options Clearing Corp., which processes and guarantees all trading of stock options on U.S. exchanges, to shore up its capital. Under the proposal, Chicago-based OCC has collected $150 million from the five exchanges that own it.