OCC, the equity derivatives clearing organization, has implemented AWS generative AI technology to modernize its internal development processes and boost overall efficiency. The integration marks a major step in OCC’s digital transformation strategy, leveraging GenAI to automate routine tasks and free technical teams to focus on higher-value work.

The deployment has already delivered notable improvements across core functions. GenAI has cut software test documentation time by up to 80%, accelerated code review and deployment workflows through faster issue detection, and simplified knowledge management by generating developer notes, technical summaries, and procedural documents with greater speed and consistency.

“As the sole central counterparty for U.S. listed options, OCC continuously seeks to enhance our operational efficiency to deliver cost-effective clearing and settlement to our clearing members,”

said Andrej Bolkovic, Chief Executive Officer at OCC.

“Our goal with using GenAI technologies is to explore how we can continue to achieve operational excellence through prudent and thoughtful innovation. We are excited to share the results of our initial AI implementation, and we will continue to make significant investments in enhancing our financial, operational and technological resiliency to fulfill our role as the foundation for secure markets.”

“By building with AWS GenAI technology, OCC has established a framework for continued innovation that supports their crucial role in the U.S. financial market,”

said Scott Mullins, Managing Director, Worldwide Financial Services at AWS.

“The success of OCC’s AI implementation demonstrates the transformative potential of generative AI in financial services operations, particularly for systemically important financial market utilities where reliability, accuracy and efficiency are paramount.”

To guarantee that its AI implementation complies with legal standards and industry best practices, OCC has put in place extensive governance mechanisms. OCC intends to increase the use of GenAI in all aspects of its development processes, including security reviews and requirements coverage verification.