世爵娱乐平台安全吗:
OCC and Investor Protection

The Options Clearing Corporation (OCC) issues substantially all Cboe options contracts. The OCC is recognized as the vital mechanism which provides market and systemic safety to the listed securities options markets in the U.S. As the issuer of exchange listed options, OCC in effect becomes the buyer to every clearing member representing a seller and the seller to every clearing member representing a buyer.

OCC's role is supported by a three-tiered safeguard system. OCC's qualifications for membership are stringent to protect OCC and its clearing members. Each clearing member applicant is subject to a thorough initial assessment of its operational capability, the experience and competence of its personnel, and its financial condition in relation to predefined standards. After tough membership standards, OCC's second line of defense against clearing member default is member margin deposits. OCC currently holds billions in aggregate clearing member margin deposits. The third line of defense is the clearing members' contributions to the clearing fund. A member's clearing fund deposit is based upon its options activity and is computed monthly. OCC's clearing fund totals hundreds of millions of dollars.

Customer Safeguards

In addition to the OCC safeguards, Cboe has adopted its own rules and regulations to better ensure that a fair and orderly marketplace exists. Both Cboe and the OCC operate under the jurisdiction of the SEC and are obligated to follow federal securities laws and regulations.

All brokerage firms conducting a public options business must furnish its options customers with the options disclosure document entitled Characteristics and Risks of Standardized Options. Firms are also obligated to establish suitability in approving a customer's account for options trading, and to ensure that all options recommendations made to customers are suitable in light of their investment objectives, financial situation and needs.

Registered representatives must pass a registration exam known as the Series 7 that tests their knowledge of the securities industry, options, federal law and regulations, and exchange rules. The securities industry and six self-regulatory organizations have moved forward with an educational initiative that would emphasize a continuing education program for brokers rather than testing.

Branch office managers require more training, experience and must pass a more advanced exam known as the Series 8 concerning the supervision of brokers. Options communications to customers must abide by certain rules and regulations before dissemination, and must be approved by the firm's Compliance Department and an exchange that trades options.

Position limits on options exist to prevent an individual or entity from controlling the market. Position limits for equity options are based on volume and number of shares outstanding of theunderlying equity issue. Stock index options also have position limits in order to prevent control of the market. Hedge exemptions allow greater position limits for investors who are using options to hedge a stock position or a diversified portfolio of stocks.

'; $('body').prepend(noscript);
  • 个税起征点若提到5000元 对你的收入有啥影响? 2018-12-12
  • 乌鲁木齐水磨沟区开建两座立体停车库 2018-12-11
  • 【理上网来·辉煌十九大】欧莱雅公司董事长:中国是推动世界创新发展的主要动力 2018-12-11
  • 筑牢主流 摈弃“历史虚无主义” 2018-12-10
  • 各族群众乐享假日:粽叶飘香 歌舞传情 2018-12-10
  • 电影《泄密者》佘诗曼首演记者:这个职业很辛苦 2018-12-09
  • 湖南首例“蚂蚁花呗”套现案:利用虚假交易套现3.2亿元 2018-12-09
  • 在端午品味文化的芳香 锐评 2018-12-09
  • 纠正事业企业化腐败,中国事业要对中国人民生存风险无偿负起责任来。 2018-12-08
  • 草原文化--内蒙古频道--人民网 2018-12-08
  • 这支神奇冰岛队里都是邻居 扑出梅西点球的门将还是导演 2018-12-08
  • 长治城区签约8个转型项目 2018-12-07
  • 笑博士,你说说,过去的国民经济发展计划是怎么订立的?有什么样的组织架构具体运作和实现这个事情?笑博士没有那个时代的经历,抄书、抄资料,说成绩、说缺点,都是可以的 2018-12-07
  • 钱增德:如何从业务精英一步步成为红色通缉犯? 2018-12-07
  • 奔驰R级优惠10.7万元 少量现车火热促销 2018-12-07
  • 837| 426| 387| 566| 506| 58| 568| 616| 259| 190|