The OCC completed operational readiness testing to clear single-stock futures on August 17. “Our agreement with NQLX marks our initial entry into the security futures market-place,” said Wayne Luthringshausen, chairman and chief executive officer of the OCC. “We're confident that our expertise in clearing derivatives, our open interest in options which enables us to offer margin offsets and our commitment to security futures products will serve this relationship well."
NQLX was the first exchange approved by the Commodities Futures Trading Commission (CFTC) to list single-stock futures. While principal-to-principal trading of single-stock futures was supposed to begin on August 21, the regulatory framework for their trading remains incomplete. The contracts may not debut in the US before the December 21 launch for retail single-stock futures trading.NQLX said it would list single-stock futures after an analysis of market-place readiness and a further submission to the CFTC on final specifications for clearing and internal regulatory arrangements.