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Securities lending average daily loan value up 83.7 percent year over year
September 02, 2021 Chicago -
OCC, the world's largest equity derivatives clearing organization, announced today that August 2021 total cleared contract volume was 805,713,175 contracts, up 30.8 percent compared to August 2020 and the highest August on record. Year-to-date average daily cleared contract volume through August was 38,839,193 contracts, up 36.4 percent compared to August 2020.
Options: Total exchange-listed options cleared contract volume was 801,578,079, up 31.0 percent compared to August 2020. Equity options cleared contract volume was 761,891,872 contracts, up 30.8 percent compared to August 2020. This includes ETF options cleared contract volume of 199,457,005, a 5.1 percent increase compared to August 2020. Index options volume was 39,686,207, up 35.0 percent compared to August 2020. OCC's year-to-date average daily cleared options volume is 38,610,059 contracts.
Futures: Total futures cleared contract volume was 4,135,096, a 1.3 percent decrease compared to August 2020. OCC's year-to-date average daily cleared futures volume is 229,135 contracts.
Securities Lending: The average daily loan value at OCC in August 2021 was $126,230,820,638, an 83.7 percent increase compared to August 2020. Securities lending CCP activity increased by 59.5 percent in new loans compared to August 2020 with 170,026 transactions last month.
[https://www.theocc.com/Market-Data/Market-Data-Reports/Series-and-Trading-Data/Position-Limits](https://www.theocc.com/Market-Data/Market-Data
... keep reading on reddit ➡Check them out link
A lot of folks are getting worked up about the OCC memos and the changes in settlement. OCC memos deal with option contract delivery. It’s in their name!
For this sub, if you are not discussing MMAT1 option contracts, then there is no need to worry about the latest OCC memos. The settlement has nothing to do with the OTC market and trading MMTLP shares.
The memos have adjusted the contract delivery from TRCHP to MMTLP. Then the recent one just means they are settled through the NSCC.
This isnt a commentary on whether or not MMTLP are scam shares or legitimate. Rather, just understand the purpose of the OCC and why they send memos.
The options market is what was even more messed up than the GME stock. All options released were becoming ITM. I have never seen this. The options clearing corporation were releasing absurd call strike prices and they were striking. All of them. We are talking major gains on options. Let that sink in. The OCC guarantees all of those options. Go give the investopedia on them a read. They are having maintenance done on their site right now so no updated data on GME options until Sunday. Convient. The SEC is supposed to have oversight of them. Lies were told across all major news networks. Interviews were given and headlines tried to push a narrative. They tried to paint r/wallstreetbets in a bad light. They took financial freedom away from us on Thursday January 28th 2021. They limited access to buy stocks and drove the options price down to almost exactly max pain. On low volume while they locked us out of a "free"market. This seems like it was even more messed up for the options market. Those same news stations all point to Robinhood a company that was soon to IPO at close to 20 Billion dollars. A company that was on a future course to make more in payment orders for stock and options than any other broker. Another thing I have never seen is that bid/ask. The market makers were allowed to set it way wider than normal. That is not the issue. Someone needs to investigate why the bid was lowered so much lower almost all day than the ask. I am talking major movement to the bid. Also someone needs to look into Jeff Psaki as he was leading the credit component of the strategy at Citadel. Why was this 140% short allowed from one of their brokers?
Unscheduled Market Closings Guide
Options Clearing Corporation
https://www.theocc.com/components/docs/about/publications/unscheduled-market-closings-guide.pdf
Rules and Bylaws
Options Clearing Corporation
https://www.theocc.com/components/docs/legal/rules_and_bylaws/occ_rules.pdf
Limit up/down and Market Circuit Breaker Rules
CBOE
http://cdn.cboe.com/resources/membership/LIMIT-UP-LIMIT-DOWN-FAQS.pdf
Daily Market Wide Circuit Breaker Limits
NASDAQ Trader
https://www.nasdaqtrader.com/trader.aspx?id=CircuitBreaker
The Options Clearing Corporation (OCC) maintains a calendar of expirations.
Here is the link to the current year 2019, and the 2020 options expiration calendars.
• Options expiration calendars (Options Clearing Corporation)
Update:
The 2020 calendar is 404 on the above link.
OCC is working on a new version of their website,
and this below link has both the 2019 and 2020 calendars.
https://prd.theocc.com/Clearance-and-Settlement/Expiration-Calendars
NSCC has proposed to increase the minimum Required Fund Deposit for each Member from the current $10,000 to $250,000. NSCC has received regulatory approval of the proposed rule change SRNSCC-2021-005 on August 11, 2021.
NSCC is providing this notice to its Members of the implementation and effective date September 3, 2021. On the morning of the effective date, Members with a fund deposit below $250,000 will incur a deficit, that will require funding by 10AM EST.
0. Preface
Hello apes. I am not a financial advisor and I do not provide financial advice.
A few things need to be cleared up, since there's some, uhh, chaos.
Options are extremely risky but it is not a demon-spawn that should be avoided like the plague. It is another tool at retail's fingertips just like DRS / direct registration. If you don't understand them, ignore the posts and do not participate in options.
But, the discussion should not be muted entirely just because a few people YOLO'd into deep OTM CALLs with 0 delta and lost their life savings. That is not the fault of options. That is the fault of their misunderstanding or greed of the play.
If anything, this can hopefully at least draw eyes back on the Variance Swaps DD which has oddly disappeared from discussion lately.
1. Clearing Some Stuff Up
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No, you should NOT sell shares to play with options. I was hoping that was implied. I don't know how that idea spread around, but it is absolutely not something that should be done. It was a lack of foresight on my end to not state that immediately.
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DRS is the way and in my opinion should be the #1 priority because it locks the float. Apes should keep on direct registering their shares as this puts pressure on the SHFs and MMs by reducing the amount of shares in their pool to borrow.
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The reason that options are being floated around is because it can be used as additional pressure on the SHFs and MMs - especially for their Variance Swap hedge. I tried to touch on Variance Swaps in the previous post but I think it got overlooked heavily. I'll go into this for the next section.
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I did not imply to bet on weeklies or short-term option plays. The strikes that I posted were simply a reference to show how options effect hedging versus buying shares outright. In fact, I personally would NOT do short-term plays (expiring within the next few 8 weeks). If you're trying to do short-term option plays, there's a good chance you will get burned. Pickleman ( /u/gherkinit ) and others are thinking that the best strategy for the proposed upcoming futures cycle are ITM / ATM CALLs for February 2022.
- Does that mean to follow suit? No. Does that gua
DTC: Notice of Filing of a Proposed Rule Change to Provide Settlement Services for Transactions Entered Into Under the Proposed Securities Financing Transaction Clearing Service of the National Securities Clearing Corporation (Release No. 34-92572; File No. SR-DTC-2021-014); see also Exhibit 5
https://www.sec.gov/rules/sro/dtc/2021/34-92572.pdf
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It's more than a bit silly that if you don't want to work off your sentence in prison your only real option to get rid of CS in a reasonable amount of time is to commit a dozen or more murders on your way to the hacking terminal.
Give us a hard to find NPC that charges high six figures to remove 1 level of CS. Give us difficult stealth-based hacking missions where, if we play it right, we can clear our CS without killing or incapacitating anyone.
Just give us something that isn't "forcefully depopulate this base."
In case you didn't know, there are two "Londons". One is "Greater London", is part of the UK, has a democratically elected mayor, and is the one most people think of when they here "London". It's actually a collection of multiple cities like Westminster, etc.
The City of London is about 1 square km and has been a private corporation since the 17th century. These days the corporation is owned entirely by multinational banks. Its leadership/governing body is hand-picked (not democratically elected) by the employees of those banks.
City of London corporation also controls the Bank of England. After the 2008 financial crisis, the UK ceded much of its financial regulating authority to the Prudential Regulating Authority, which is run/controlled by the Bank of England.
So basically, the LBMA clearing banks told the Bank of International Settlements to get fucked. They could do this because they own the City of London corporation, which runs the BoE, which runs the PRA. They essentially gave themselves their own exemption.
If you haven't learned about the City of London corporation, you should. It's fascinating stuff. Queen can't enter without permission, can't be seated higher than the governing board, has its own police force, laws, etc. Also basically the center of finance.
https://www.youtube.com/watch?v=EC0G7pY4wRE&t=944s
Richard Werner gives a good overview in the clip above, starting around 14:44.
So China & Russia pressure the BIS and corner it into implementing Basel III NSFR for gold, under threat of releasing their own gold-backed currencies. BIS caves. But LBMA banks get together and tell everyone to go pound sand because they can give themselves an exemption through their ownership of the City of London. LMAO... China & Russia won't be happy bout this.
T+1 settlement system would be benefitting for the investor community but clearing corporations are opposing it. This new settlement cycle is to start from January 1, 2022, onwards. Clearing corporations believe it's very little time for them to implement it. According to the media reports, market intermediaries involved with settling, confirming and delivering shares are concerned because there's not enough time. Custodian banks that handle back-office work of the foreign investors feel an extension of four months should be given by the SEBI.
This is not the first time that clearing corporations and custodian banks are opposing the rule. Offshore funds and FPIs have also raised their concerns over this matter. However, SEBI has not released any statement on the same. In fact, the market regulator has given an option to the securities if they want to implement the T+1 settlement.
Currently, all trades are settled in the T+2 cycle. This means the investors receive the shares in two trading days from the date of purchasing. SEBI has tweaked this rule to the T+1 cycle. This will improve the market efficiency and more liquidity will flow across channels.
I haven't had a chance to read what the rule is about but wanted to get more eyes on this.
Link to the SEC Rules: https://www.sec.gov/rules/sro/nscc.htm
Link to the pdf of the new rule: SR-NSCC-009
My understanding from researching was that Apex Clearing Corporation was who pressed RH and others to halt buying of GME and other stocks in Jan.
Could Citadel be threading a legal needle with the words in the tweet? What influence does Kenny have on Apex?
WHAT ARE YOUR THOUGHTS ?
Unscheduled Market Closings Guide (PDF)
Options Clearing Corporation
https://www.theocc.com/components/docs/about/publications/unscheduled-market-closings-guide.pdf
Rules and Bylaws (PDF)
Options Clearing Corporation
https://www.theocc.com/components/docs/legal/rules_and_bylaws/occ_rules.pdf
