Supervisory Body

US Securities and Exchange Commission (SEC)

Name of Clearing & Settlement Organization

The Options Clearing Corporation (OCC)

Settlement Cycle

T + 1

Name of Central Securities Depository

DTCC

Commissions on Transactions levied by Exchange

Various, depending on product. (Please see CBOE Fee Schedule)

Taxes on Dividends, Interests

US tax law applies.

In the U.S., qualified dividends are currently taxed at a maximum rate of 15%. Non-qualified dividends, interest income and short-term capital gains are taxed as ordinary income using graduated rates starting at 10% and going to 35%. Long-term capital gains are currently taxed at a maximum rate of 15%. Dealers in futures and certain broad-based index options are eligible for special tax treatment. Their gains are taxed as 60% capital gains and 40% ordinary income.

2011 Share ownership thresholds (%) 

The U.S. Securities Exchange Act requires that when a person or group acquires beneficial ownership of more than 5% of a voting class of a companies registered equity securities they are required to report it. Options are included in determining the 5% if the person or group have the right to acquire the stock within sixty days

Short selling (Yes / No)

Yes, short selling of stock is allowed in the U.S., subject to certain conditions.

Short selling conditions (if any)

Generally, short sellers must “locate” (have arrangements to borrow) the stock prior to engaging in a short sale of the stock. (See SEC Reg. SHO)