As a registered Derivatives Clearing Organization (DCO) under CFTC jurisdiction and a designated Systemically Important Financial Market Utility (SIFMU) under the Dodd-Frank Act, OCC offers clearing and settlement services for transactions in futures and options on futures contracts.

[citation needed] Clearing volumes had increased dramatically since its launch, reflecting the growing use of equity options.

[9] In an interview with Crain's Magazine,[10] Donohue considered himself a change agent in the industry and will continue to be at OCC.

[12] In January 2014, OCC officially received regulatory approvals to clear OTC equity index options.

The launch of the OTC S&P 500 equity index option clearing services took place in April 2014.

[13] On September 29, 2014, OCC and the U.S. options exchanges announced the adoption of new principles-based risk control standards.

The reforms were designed to reduce the risk of errors or unintended activity that could cause or contribute to a financial loss to market participants and OCC.

The order found that OCC did not establish and implement policies and procedures designed to manage risk related to the company's automated systems.

OIC's Roundtable is the independent governing body of the council and is composed of representatives from the U.S. options exchanges, member brokerage firms and OCC.