CHICAGO (July 23, 2008) -- The Options Clearing Corp. (OCC) reported that the total number of options contracts traded so far this year surpassed 2 billion contracts yesterday. This marks the third-consecutive year that trading volume has achieved this level.

Total options volume hit 2 billion contracts for the first time on December 22, 2006, and then again on Sept. 25, 2007. While it took 183 trading days to reach this milestone in 2007, it only took 140 trading days for 2 billion contracts to change hands this year.

"During volatile times more investors are embracing the hedging power of options," said Michael E. Cahill, OCC President and Chief Operating Officer. "The spectacular increases in trading volume over the past five years are also a result of the innovative products and services the U.S. options exchanges have brought to the marketplace."

Year-to-date average daily options volume at OCC is 14.3 million contracts, about 3 million contracts per day better than the daily average in 2007, which was a record trading year for the industry.

More information about the OCC is available through its Web site at OptionsClearing.com.

Related story: "Options Industry Sets New Daily Volume Record"

Dawn Pennington

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