OCC Welcomes New Directors to Strengthen Leadership
OCC, the world's largest equity derivatives clearing organization, has announced the appointment of two highly qualified new members to its board of directors. The new directors, Rachelle Keller and Mike West, bring significant experience in financial services that will enhance OCC's governance and strategic direction.
Meet the New Members
Rachelle Keller comes to OCC with an impressive background spanning over 30 years in the financial services sector. She has held various senior leadership roles across diverse areas, including investment banking, markets and trading, and institutional brokerage. Her noteworthy experience includes serving as the Chief Financial Officer of Treasury and Securities Services at a top firm, bringing insight and expertise that will be invaluable to OCC's operations.
Rachelle Keller's Background
Before joining OCC, Keller managed significant financial operations and has been a transformative force in organizations such as Citibank and JPMorgan Chase. Her multifaceted experience encompasses crucial areas that align with OCC's mission of stability and efficiency in clearing and settlement services.
Mike West: A Leader in U.S. Equities
Joining Rachelle is Mike West, who also brings over 30 years of extensive experience in the U.S. equities operations and trading systems. In his current position, West is at the helm of the NYSE’s business operations covering its multiple exchanges. His deep knowledge of trading environments will serve OCC well as it continues to navigate the complexities of today's financial markets.
Mike West's Expertise
Previously, Mike West made significant contributions to the U.S. Options team, focusing on vital product development and strategic initiatives. His roles at prominent institutions like Pershing and The Philadelphia Stock Exchange are a testament to his capabilities in leading operational excellence.
Commitment to Market Integrity
Craig Donohue, Chairman of OCC, expressed excitement about the new appointments, stating, “With their decades of operations experience in financial services, we are pleased to welcome Rachelle and Mike to our board of directors. Their addition aligns perfectly with OCC's ongoing mission to promote market stability and integrity.”
About OCC: A Pillar in Clearing Services
Established in 1973, the Options Clearing Corporation (OCC) is dedicated to ensuring stability in financial markets through its clearing and settlement services. As a systemically important financial market utility, OCC operates under oversight from key regulatory bodies, ensuring compliance and operational excellence.
OCC's Role in Financial Markets
OCC serves more than 100 clearing members and implements central counterparty clearing for 21 exchanges and trading platforms, showcasing its pivotal role in the industry.
Frequently Asked Questions
What is the significance of the new board members?
The addition of Rachelle Keller and Mike West strengthens OCC's leadership in financial services, enhancing its strategic governance.
How does OCC support market integrity?
OCC promotes market integrity by providing reliable clearing and settlement services, ensuring efficiency and stability in financial transactions.
When was OCC established?
OCC was founded in 1973 and has grown to become the largest equity derivatives clearing organization in the world.
What services does OCC provide?
OCC offers clearing and settlement services for options, futures, and securities lending transactions, acting as a central counterparty.
How many exchanges does OCC serve?
OCC provides central counterparty clearing services to 21 exchanges and trading platforms, reflecting its integral role in the financial ecosystem.
