COVID-related issues triggered record volume and volatility in 2020 that presented challenges for exchanges and regulators, from both a market and an operational standpoint, said U.S. Securities and Exchange Commissioner Allison Herren Lee. In a Tuesday keynote address to the 2021 Options Industry Conference conducted as an interview with John Davidson, OCC’s chief executive officer, Lee said 2020’s jump in volume and volatility “really tested our financial system.” The surge also tested trading and message infrastructures and some funds’ capital reserves, Lee said.
