The OCC, the Chicago-based clearinghouse for equity derivatives, has established a $1 billion repurchase facility with an pension fund, increasing its liquidity resources to $3 billion from $2 billion. The OCC said the arrangement provides the clearinghouse with an additional source of liquidity without increasing its exposure to clearing members and their bank affiliates. Through the repo facility the pension fund will buy government securities from OCC in exchange for immediately available funds. This will include government securities in clearing member contributions and margin deposits.
