The Options Clearing Corporation
Management Vice Chairman
CLASS OF 1964
Once upon a time, Washington & Jefferson College had weekend classes which wasnt as bad as it could have been when you had Dr. Homer Porter as your teacher. On party weekends, you would take your date to Dr. Porter's class because he was such a great performer, laughs George Hender. He was an excellent lecturer with a good sense of humor.Because students and faculty at W&J are so close, Hender remembers a family atmosphere at the College that created lifelong friendships.Those are my fondest memories; the friendships I made and continue to have, he says.
After Hender graduated from W&J, he earned a law degree from Washington College of Law, and then worked in several securities firms before joining The Options Clearing Corporation, also known as OCC, where he is now management vice chairman. OCC operates under the jurisdiction of both the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC). Under its SEC jurisdiction, OCC clears transactions for put and call options on common stocks and other equity issues, stock indexes, foreign currencies, interest rate composites, and single-stock futures. As a registered derivatives clearing organization under CFTC jurisdiction, OCC offers clearing and settlement services for transactions in futures and options on futures. OCC is the world's largest derivative clearing organization, clearing a record 1.5 billion options contracts and 5.7 million futures contracts in 2005.
Immediately following September 11, 2001, in response to President George W. Bush's order to his cabinet to find the companies that were critical to the survival of the country, a partnership was created between the financial industry and the government to ensure the survival of the financial sector in the event of another attack. My son was 100 to 200 yards from the World Trade Center when it was attacked, says Hender. And many associates of mine did not survive that day. I love my country and will do everything in my power to ensure that this will never happen again. Toward that end, Hender also serves as chairman of the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security and vice chairman of Financial Services Information Sharing and Analysis Center , organizations that gather and distribute homeland security information to financial services firms.