Options Clearing Corp faces pressures of systemic status

Disaster recovery and oversight key for utility's CRO

john-grace-2
John Grace: 'Hurricane Sandy taught us a really hard lesson – that we had to be able to function remotely'

Business continuity is high on the operational risk list for the US Options Clearing Corporation (OCC), which clears about four billion US equity options contracts each year in Chicago. John Grace, chief risk officer at OCC, says the experience has taught him the value of guarding against natural – and man-made – disasters that could disrupt operations.

"Hurricane Sandy taught us a really hard lesson – that we had to be able to function remotely," he says.

OCC conducts frequent testing of its

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: