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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilities" xlink:to="us-gaap_DeferredIncomeTaxLiabilities_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxLiabilities_lbl" xml:lang="en-US">Deferred Income Tax Liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubordinatedDebt" xlink:label="us-gaap_SubordinatedDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubordinatedDebt" xlink:to="us-gaap_SubordinatedDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubordinatedDebt_lbl" xml:lang="en-US">Subordinated Debt</label>
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    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ExcessOfFairValueOfAcquiredAssetsOverCost" xlink:label="opy_ExcessOfFairValueOfAcquiredAssetsOverCost" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ExcessOfFairValueOfAcquiredAssetsOverCost_lbl" xml:lang="en-US">Excess of fair value of acquired assets over cost.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ExcessOfFairValueOfAcquiredAssetsOverCost_lbl" xml:lang="en-US">Excess of fair value of acquired assets over cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_lbl" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_lbl" xml:lang="en-US">Stockholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Parent [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Share capital</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common Stock, Shares, Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common Stock, Shares, Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Class A Stock outstanding, end of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Class A Stock outstanding, beginning of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">common stock outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, shares outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US">Contributed capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US">Additional Paid in Capital, Common Stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained earnings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated other comprehensive income (loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total Oppenheimer Holdings Inc. stockholders' equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Parent, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders' equity attributable to the Oppenheimer Holdings Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders' Equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterest" xlink:to="us-gaap_MinorityInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Non-controlling interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinorityInterest_lbl" xml:lang="en-US">Non-controlling interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Total equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total Liabilities and Equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">REVENUE:</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BrokerageCommissionsRevenue" xlink:label="us-gaap_BrokerageCommissionsRevenue" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BrokerageCommissionsRevenue_lbl" xml:lang="en-US">Commissions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BrokerageCommissionsRevenue_lbl" xml:lang="en-US">Brokerage Commissions Revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PrincipalTransactionsRevenue" xlink:label="us-gaap_PrincipalTransactionsRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrincipalTransactionsRevenue" xlink:to="us-gaap_PrincipalTransactionsRevenue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrincipalTransactionsRevenue_lbl" xml:lang="en-US">Principal Transactions Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PrincipalTransactionsRevenue_lbl" xml:lang="en-US">Principal transactions, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestIncomeOperating" xlink:label="us-gaap_InterestIncomeOperating" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestIncomeOperating" xlink:to="us-gaap_InterestIncomeOperating_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestIncomeOperating_lbl" xml:lang="en-US">Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestIncomeOperating_lbl" xml:lang="en-US">Interest Income, Operating</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommunicationsAndInformationTechnology" xlink:to="us-gaap_CommunicationsAndInformationTechnology_lbl" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OccupancyNet" xlink:to="us-gaap_OccupancyNet_lbl" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest Expense</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherExpenses" xlink:to="us-gaap_OtherExpenses_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherExpenses_lbl" xml:lang="en-US">Other Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherExpenses_lbl" xml:lang="en-US">Other</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US">Operating Expenses</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Net profit (Loss) for the period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Net profit (Loss) for the period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Net profit for the period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Net Income Loss Attributable To Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Less net profit attributable to non-controlling interest, net of tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Net profit attributable to non-controlling interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Less net profit attributable to non-controlling interest, net of tax</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net profit (Loss) for the period attributable to Oppenheimer Holdings Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net profit (loss) attributable to Oppenheimer Holdings Inc.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net Income (Loss) Attributable to Parent</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Profit (loss) per share attributable to Oppenheimer Holdings Inc.:</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Basic profit (loss) per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Earnings Per Share, Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Basic</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Diluted profit (loss) per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Earnings Per Share, Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Diluted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US">Cash dividend payable amount per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockDividendsPerShareDeclared_lbl" xml:lang="en-US">Dividends declared per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_lbl" xml:lang="en-US">Comprehensive income (Loss) for the period</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operations:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net profit (loss) to net cash used in operating activities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net profit to net cash used in operating activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Non-cash items included in net profit:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepreciationAmortizationAndAccretionNet" xlink:label="us-gaap_DepreciationAmortizationAndAccretionNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAmortizationAndAccretionNet" xlink:to="us-gaap_DepreciationAmortizationAndAccretionNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DepreciationAmortizationAndAccretionNet_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAmortizationAndAccretionNet_lbl" xml:lang="en-US">Depreciation, Amortization and Accretion, Net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred income tax</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_AmortizationOfNotesReceivable" xlink:label="opy_AmortizationOfNotesReceivable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_AmortizationOfNotesReceivable" xlink:to="opy_AmortizationOfNotesReceivable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_AmortizationOfNotesReceivable_lbl" xml:lang="en-US">Amortization of Notes Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_AmortizationOfNotesReceivable_lbl" xml:lang="en-US">Amortization of notes receivable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_AmortizationOfNotesReceivable_lbl" xml:lang="en-US">Amortization of notes receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCosts" xlink:to="us-gaap_AmortizationOfFinancingCosts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US">Amortization of debt issuance costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US">Amortization of Financing Costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="us-gaap_AmortizationOfIntangibleAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US">Amortization of Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US">Amortization of intangibles assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US">Amortization of intangibles</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based compensation expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingAssetsAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xml:lang="en-US">Decrease (increase) in operating assets:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingAssetsAbstract_lbl" xml:lang="en-US">Increase (Decrease) in Operating Assets [Abstract]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_IncreaseDecreaseDepositsWithClearingOrganizations" xlink:label="opy_IncreaseDecreaseDepositsWithClearingOrganizations" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_IncreaseDecreaseDepositsWithClearingOrganizations" xlink:to="opy_IncreaseDecreaseDepositsWithClearingOrganizations_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_IncreaseDecreaseDepositsWithClearingOrganizations_lbl" xml:lang="en-US">Increase Decrease Deposits with Clearing Organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="opy_IncreaseDecreaseDepositsWithClearingOrganizations_lbl" xml:lang="en-US">Deposits with clearing organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_IncreaseDecreaseDepositsWithClearingOrganizations_lbl" xml:lang="en-US">Deposits with clearing organizations.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInBrokerageReceivables" xlink:label="us-gaap_IncreaseDecreaseInBrokerageReceivables" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInBrokerageReceivables" xlink:to="us-gaap_IncreaseDecreaseInBrokerageReceivables_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInBrokerageReceivables_lbl" xml:lang="en-US">Increase (Decrease) in Brokerage Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInBrokerageReceivables_lbl" xml:lang="en-US">Receivable from brokers and clearing organizations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables" xlink:label="us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables" xlink:to="us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables_lbl" xml:lang="en-US">Increase (Decrease) in Accounts and Other Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsAndOtherReceivables_lbl" xml:lang="en-US">Receivable from customers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" xml:lang="en-US">Increase (Decrease) in Income Taxes Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" xml:lang="en-US">Income taxes receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements" xlink:label="us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements" xlink:to="us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements_lbl" xml:lang="en-US">Increase (Decrease) in Receivables under Repurchase Agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements_lbl" xml:lang="en-US">Securities purchased under agreement to resell</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:label="us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities_lbl" xml:lang="en-US">Increase (Decrease) in Financial Instruments Used in Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities_lbl" xml:lang="en-US">Securities owned</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInNotesReceivables" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivables" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInNotesReceivables" xlink:to="us-gaap_IncreaseDecreaseInNotesReceivables_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivables_lbl" xml:lang="en-US">Increase (Decrease) in Notes Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivables_lbl" xml:lang="en-US">Notes receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets_lbl" xml:lang="en-US">Other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xml:lang="en-US">Increase (decrease) in operating liabilities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_lbl" xml:lang="en-US">Increase (Decrease) in Operating Liabilities [Abstract]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_IncreaseDecreaseInDraftPayable" xlink:label="opy_IncreaseDecreaseInDraftPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_IncreaseDecreaseInDraftPayable" xlink:to="opy_IncreaseDecreaseInDraftPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_IncreaseDecreaseInDraftPayable_lbl" xml:lang="en-US">Increase Decrease in Draft Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_IncreaseDecreaseInDraftPayable_lbl" xml:lang="en-US">Drafts payable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_IncreaseDecreaseInDraftPayable_lbl" xml:lang="en-US">Drafts payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers" xlink:to="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl" xml:lang="en-US">Payable to brokers and clearing organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_lbl" xml:lang="en-US">Increase (Decrease) in Payables to Broker-Dealers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" xlink:label="us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements" xlink:to="us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements_lbl" xml:lang="en-US">Securities sold under agreement to repurchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements_lbl" xml:lang="en-US">Increase (Decrease) in Payables under Repurchase Agreements</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased_lbl" xml:lang="en-US">Securities sold, but not yet purchased</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_lbl" xml:lang="en-US">Accrued compensation</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and other liabilities</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Cash used in operating activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchase of office facilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Cash used in investing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US">Payments of Dividends, Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US">Cash dividends paid on Class A non-voting and Class B voting common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US">Issuance of Class A non-voting common stock</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities" xlink:to="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities_lbl" xml:lang="en-US">Excess Tax Benefit from Share-based Compensation, Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities_lbl" xml:lang="en-US">Tax benefit (shortfall) from share-based compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfNotesPayable" xlink:to="us-gaap_RepaymentsOfNotesPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfNotesPayable_lbl" xml:lang="en-US">Repayments of Notes Payable</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Cash provided by financing activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net increase (decrease) in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" xml:lang="en-US">Schedule of non-cash investing and financing activities:</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental disclosure of cash flow information:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="us-gaap_InterestPaid_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestPaid_lbl" xml:lang="en-US">Cash paid during the periods for interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaid_lbl" xml:lang="en-US">Interest Paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="us-gaap_IncomeTaxesPaid" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxesPaid" xlink:to="us-gaap_IncomeTaxesPaid_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeTaxesPaid_lbl" xml:lang="en-US">Cash paid during the periods for income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesPaid_lbl" xml:lang="en-US">Income Taxes Paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Summary of significant accounting policies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl" xml:lang="en-US">New Accounting Pronouncements [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US">Earning per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US">Earnings Per Share [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtTextBlock" xlink:label="us-gaap_LongTermDebtTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtTextBlock" xlink:to="us-gaap_LongTermDebtTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xml:lang="en-US">Long-term debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtTextBlock_lbl" xml:lang="en-US">Long-term Debt [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Share capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Stockholders' Equity Note Disclosure [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">Related party transactions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CommonClassBMember" xml:lang="en-US">Common Class B [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_CommonClassBMember" xml:lang="en-US">Class B Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CommonClassBMember" xml:lang="en-US">Class B voting common stock</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareCashPaid" xlink:to="lab_CommonStockDividendsPerShareCashPaid" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CommonStockDividendsPerShareCashPaid" xml:lang="en-US">Common Stock, Dividends, Per Share, Cash Paid</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityInformationLineItems" xlink:label="dei_EntityInformationLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInformationLineItems" xlink:to="lab_EntityInformationLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EntityInformationLineItems" xml:lang="en-US">Entity Information [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_WeightedAverageNumberOfSharesOutstandingBasic" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Basic weighted average number of shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Basic</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrentAndNoncurrent" xlink:to="us-gaap_AccountsPayableCurrentAndNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">Accounts payable and other liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrentAndNoncurrent_lbl" xml:lang="en-US">Accounts Payable Current And Noncurrent</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_EmployeeSharePlanIssuance" xlink:label="opy_EmployeeSharePlanIssuance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_EmployeeSharePlanIssuance" xlink:to="opy_EmployeeSharePlanIssuance_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_EmployeeSharePlanIssuance_lbl" xml:lang="en-US">Employee Share Plan Issuance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_EmployeeSharePlanIssuance_lbl" xml:lang="en-US">Employee share plan issuance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_EmployeeSharePlanIssuance_lbl" xml:lang="en-US">The grant date fair value of stock issued upon the vesting of stock awards.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DueFromEmployees" xlink:label="us-gaap_DueFromEmployees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromEmployees" xlink:to="us-gaap_DueFromEmployees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueFromEmployees_lbl" xml:lang="en-US">Due From Employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DueFromEmployees_lbl" xml:lang="en-US">Notes receivable, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DueFromEmployees_lbl" xml:lang="en-US">Notes receivable, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfSubordinatedDebt" xlink:label="us-gaap_RepaymentsOfSubordinatedDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfSubordinatedDebt" xlink:to="lab_RepaymentsOfSubordinatedDebt" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RepaymentsOfSubordinatedDebt" xml:lang="en-US">Repayments of Subordinated Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_RepaymentsOfSubordinatedDebt" xml:lang="en-US">Subordinated note repayment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RepaymentsOfSubordinatedDebt" xml:lang="en-US">Subordinated note repayment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:to="lab_ProceedsFromIssuanceOfSecuredDebt" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ProceedsFromIssuanceOfSecuredDebt" xml:lang="en-US">Proceeds from Issuance of Secured Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_ProceedsFromIssuanceOfSecuredDebt" xml:lang="en-US">Issuance of senior secured note</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ProceedsFromIssuanceOfSecuredDebt" xml:lang="en-US">Senior secured note issuance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProvisionForOtherCreditLosses" xlink:label="us-gaap_ProvisionForOtherCreditLosses" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForOtherCreditLosses" xlink:to="lab_ProvisionForOtherCreditLosses" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ProvisionForOtherCreditLosses" xml:lang="en-US">Provision for Other Credit Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ProvisionForOtherCreditLosses" xml:lang="en-US">Provision for credit losses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuredDebt" xlink:label="us-gaap_SecuredDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuredDebt" xlink:to="lab_SecuredDebt" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SecuredDebt" xml:lang="en-US">Secured Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SecuredDebt" xml:lang="en-US">Senior secured note</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_WeightedAverageNumberOfSharesOutstandingAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US">Weighted average common shares:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_WeightedAverageNumberOfDilutedSharesOutstanding" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Diluted weighted average number of shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Diluted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInPayablesToCustomers" xlink:label="us-gaap_IncreaseDecreaseInPayablesToCustomers" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPayablesToCustomers" xlink:to="us-gaap_IncreaseDecreaseInPayablesToCustomers_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPayablesToCustomers_lbl" xml:lang="en-US">Increase (Decrease) in Payables to Customers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInPayablesToCustomers_lbl" xml:lang="en-US">Payable to customers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BrokersAndDealersAbstract" xlink:label="us-gaap_BrokersAndDealersAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BrokersAndDealersAbstract" xlink:to="lab_BrokersAndDealersAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_BrokersAndDealersAbstract" xml:lang="en-US">Receivable from and Payable to Brokers and Clearing Organizations and Regulatory Requirements [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure" xlink:label="us-gaap_DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure" xlink:to="lab_DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure" xml:lang="en-US">Due to and from Broker-Dealers and Clearing Organizations Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure" xml:lang="en-US">Receivable from and payable to brokers and clearing organizations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:to="lab_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xml:lang="en-US">Financial Instruments [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="lab_DebtDisclosureAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtDisclosureAbstract" xml:lang="en-US">Long-Term Debt [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityAbstract" xlink:label="us-gaap_EquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityAbstract" xlink:to="lab_EquityAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EquityAbstract" xml:lang="en-US">Share Capital [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="us-gaap_RelatedPartyTransactionsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_RelatedPartyTransactionsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RelatedPartyTransactionsAbstract" xml:lang="en-US">Related Party Transactions [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="us-gaap_SegmentReportingAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingAbstract" xlink:to="lab_SegmentReportingAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingAbstract" xml:lang="en-US">Segment Information [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="us-gaap_SubsequentEventsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="lab_SubsequentEventsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SubsequentEventsAbstract" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="lab_SubsequentEventsTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SubsequentEventsTextBlock" xml:lang="en-US">Subsequent Events [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SubsequentEventsTextBlock" xml:lang="en-US">Subsequent events</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:to="lab_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xml:lang="en-US">Supplemental Guarantor Condensed Consolidated Financial [Abstract]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_IncreaseDecreaseInCashAndSecuritiesSegregatedForRegulatoryAndOtherPurposes" xlink:label="opy_IncreaseDecreaseInCashAndSecuritiesSegregatedForRegulatoryAndOtherPurposes" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_IncreaseDecreaseInCashAndSecuritiesSegregatedForRegulatoryAndOtherPurposes" xlink:to="opy_IncreaseDecreaseInCashAndSecuritiesSegregatedForRegulatoryAndOtherPurposes_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_IncreaseDecreaseInCashAndSecuritiesSegregatedForRegulatoryAndOtherPurposes_lbl" xml:lang="en-US">Increase Decrease in Cash and Securities segregated for regulatory and other purposes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="opy_IncreaseDecreaseInCashAndSecuritiesSegregatedForRegulatoryAndOtherPurposes_lbl" xml:lang="en-US">Cash and securities segregated for regulatory and other purposes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_IncreaseDecreaseInCashAndSecuritiesSegregatedForRegulatoryAndOtherPurposes_lbl" xml:lang="en-US">Increase decrease in cash and securities segregated for regulatory and other purposes.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_IncreaseDecreaseInBankCallLoansNet" xlink:label="opy_IncreaseDecreaseInBankCallLoansNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_IncreaseDecreaseInBankCallLoansNet" xlink:to="opy_IncreaseDecreaseInBankCallLoansNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="opy_IncreaseDecreaseInBankCallLoansNet_lbl" xml:lang="en-US">Increase (decrease) in bank call loans, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_IncreaseDecreaseInBankCallLoansNet_lbl" xml:lang="en-US">Increase Decrease in Bank Call Loans Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_IncreaseDecreaseInBankCallLoansNet_lbl" xml:lang="en-US">Increase decrease in bank call loans net.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_VestedEmployeeSharePlanAwards" xlink:label="opy_VestedEmployeeSharePlanAwards" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_VestedEmployeeSharePlanAwards" xlink:to="opy_VestedEmployeeSharePlanAwards_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_VestedEmployeeSharePlanAwards_lbl" xml:lang="en-US">Vested employee Share Plan Awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_VestedEmployeeSharePlanAwards_lbl" xml:lang="en-US">Vested employee share plan awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_VestedEmployeeSharePlanAwards_lbl" xml:lang="en-US">The reversal of the pretax accumulated compensation cost for stock awards that vested during the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:to="lab_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xml:lang="en-US">Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xml:lang="en-US">Comprehensive Income (Loss)</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xlink:to="lab_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Change in cash flow hedges, net of tax</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SummaryOfSignificantAccountingPoliciesTextualAbstract" xlink:label="opy_SummaryOfSignificantAccountingPoliciesTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SummaryOfSignificantAccountingPoliciesTextualAbstract" xlink:to="opy_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" xml:lang="en-US">Summary of significant accounting policies (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" xml:lang="en-US">Summary of significant accounting policies.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="lab_FairValueMeasurementPolicyPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueMeasurementPolicyPolicyTextBlock" xml:lang="en-US">Fair Value Measurement, Policy [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueMeasurementPolicyPolicyTextBlock" xml:lang="en-US">Fair Value Measurement</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable" xlink:to="lab_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentRestatementTable" xml:lang="en-US">Schedule of Error Corrections and Prior Period Adjustment Restatement [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="lab_StatementScenarioAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StatementScenarioAxis" xml:lang="en-US">Scenario [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="lab_ScenarioUnspecifiedDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScenarioUnspecifiedDomain" xml:lang="en-US">Scenario, Unspecified [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RestatementAdjustmentMember" xlink:label="us-gaap_RestatementAdjustmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestatementAdjustmentMember" xlink:to="lab_RestatementAdjustmentMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RestatementAdjustmentMember" xml:lang="en-US">Restatement Adjustment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RestatementAdjustmentMember" xml:lang="en-US">Revision [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementLineItems" xlink:label="us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementLineItems" xlink:to="lab_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ErrorCorrectionsAndPriorPeriodAdjustmentsRestatementLineItems" xml:lang="en-US">Error Corrections and Prior Period Adjustments Restatement [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToCallOptionsAndWarrants" xlink:label="us-gaap_IncrementalCommonSharesAttributableToCallOptionsAndWarrants" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToCallOptionsAndWarrants" xlink:to="lab_IncrementalCommonSharesAttributableToCallOptionsAndWarrants" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncrementalCommonSharesAttributableToCallOptionsAndWarrants" xml:lang="en-US">Incremental Common Shares Attributable to Call Options and Warrants</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncrementalCommonSharesAttributableToCallOptionsAndWarrants" xml:lang="en-US">Net dilutive effect of warrant, treasury method</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="lab_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xml:lang="en-US">Incremental Common Shares Attributable to Share-based Payment Arrangements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xml:lang="en-US">Net dilutive effect of share-based awards, treasury method</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:to="lab_EarningsPerShareBasicAndDilutedAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EarningsPerShareBasicAndDilutedAbstract" xml:lang="en-US">Earnings Per Share, Basic and Diluted [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EarningsPerShareBasicAndDilutedAbstract" xml:lang="en-US">Earnings per share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US">Business Acquisition [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain_lbl" xml:lang="en-US">Business Acquisition Acquiree [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfDueToFromBrokerDealersAndClearingOrganizationsTextBlock" xlink:label="us-gaap_ScheduleOfDueToFromBrokerDealersAndClearingOrganizationsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDueToFromBrokerDealersAndClearingOrganizationsTextBlock" xlink:to="lab_ScheduleOfDueToFromBrokerDealersAndClearingOrganizationsTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfDueToFromBrokerDealersAndClearingOrganizationsTextBlock" xml:lang="en-US">Schedule of Due to (from) Broker-Dealers and Clearing Organizations [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfDueToFromBrokerDealersAndClearingOrganizationsTextBlock" xml:lang="en-US">Receivable from and payable to brokers and clearing organizations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepositsPaidForSecuritiesBorrowedAtCarryingValue" xlink:label="us-gaap_DepositsPaidForSecuritiesBorrowedAtCarryingValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositsPaidForSecuritiesBorrowedAtCarryingValue" xlink:to="lab_DepositsPaidForSecuritiesBorrowedAtCarryingValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DepositsPaidForSecuritiesBorrowedAtCarryingValue" xml:lang="en-US">Deposits Paid for Securities Borrowed, at Carrying Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DepositsPaidForSecuritiesBorrowedAtCarryingValue" xml:lang="en-US">Deposits paid for securities borrowed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesFailedToDeliver" xlink:label="us-gaap_SecuritiesFailedToDeliver" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesFailedToDeliver" xlink:to="lab_SecuritiesFailedToDeliver" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SecuritiesFailedToDeliver" xml:lang="en-US">Securities Failed-to-Deliver</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReceivablesFromClearingOrganizations" xlink:label="us-gaap_ReceivablesFromClearingOrganizations" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesFromClearingOrganizations" xlink:to="lab_ReceivablesFromClearingOrganizations" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ReceivablesFromClearingOrganizations" xml:lang="en-US">Receivables from Clearing Organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ReceivablesFromClearingOrganizations" xml:lang="en-US">Clearing organizations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherReceivablesFromBrokerDealersAndClearingOrganizations" xlink:label="us-gaap_OtherReceivablesFromBrokerDealersAndClearingOrganizations" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherReceivablesFromBrokerDealersAndClearingOrganizations" xlink:to="lab_OtherReceivablesFromBrokerDealersAndClearingOrganizations" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OtherReceivablesFromBrokerDealersAndClearingOrganizations" xml:lang="en-US">Other Receivables from Broker-Dealers and Clearing Organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OtherReceivablesFromBrokerDealersAndClearingOrganizations" xml:lang="en-US">Other</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OmnibusAccounts" xlink:label="opy_OmnibusAccounts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OmnibusAccounts" xlink:to="opy_OmnibusAccounts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OmnibusAccounts_lbl" xml:lang="en-US">Omnibus Accounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OmnibusAccounts_lbl" xml:lang="en-US">Omnibus accounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OmnibusAccounts_lbl" xml:lang="en-US">Omnibus accounts.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PayablesToBrokerDealersAndClearingOrganizationsAbstract" xlink:label="us-gaap_PayablesToBrokerDealersAndClearingOrganizationsAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PayablesToBrokerDealersAndClearingOrganizationsAbstract" xml:lang="en-US">Payables to Broker-Dealers and Clearing Organizations [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PayablesToBrokerDealersAndClearingOrganizationsAbstract" xml:lang="en-US">Payable to brokers and clearing organizations consist of:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizationsAbstract" xlink:label="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizationsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizationsAbstract" xlink:to="lab_ReceivablesFromBrokersDealersAndClearingOrganizationsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ReceivablesFromBrokersDealersAndClearingOrganizationsAbstract" xml:lang="en-US">Receivables from Brokers-Dealers and Clearing Organizations [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ReceivablesFromBrokersDealersAndClearingOrganizationsAbstract" xml:lang="en-US">Receivable from brokers and clearing organizations consist of:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DepositsReceivedForSecuritiesLoanedAtCarryingValue" xlink:label="us-gaap_DepositsReceivedForSecuritiesLoanedAtCarryingValue" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="lab_FairValueByMeasurementFrequencyAxis" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="lab_FairValueMeasurementFrequencyDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueMeasurementFrequencyDomain" xml:lang="en-US">Fair Value, Measurement Frequency [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SecuritiesSoldNotYetPurchasedFairValueDisclosure" xml:lang="en-US">Securities sold, but not yet purchased, at fair value</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="lab_LiabilitiesFairValueDisclosure" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LiabilitiesFairValueDisclosure" xml:lang="en-US">Liabilities, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_LiabilitiesFairValueDisclosure" xml:lang="en-US">Total</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesRelatedToInvestmentContractsFairValueDisclosure" xlink:to="lab_LiabilitiesRelatedToInvestmentContractsFairValueDisclosure" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LiabilitiesRelatedToInvestmentContractsFairValueDisclosure" xml:lang="en-US">Liabilities Related to Investment Contracts, Fair Value Disclosure</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesOwnedAndSoldNotYetPurchasedAbstract" xlink:label="us-gaap_SecuritiesOwnedAndSoldNotYetPurchasedAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SecuritiesOwnedAndSoldNotYetPurchasedAbstract" xml:lang="en-US">Securities Owned and Sold, Not yet Purchased [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SecuritiesOwnedAndSoldNotYetPurchasedAbstract" xml:lang="en-US">Securities sold, but not yet purchased</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AssetsFairValueDisclosure" xml:lang="en-US">Assets, Fair Value Disclosure</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_USTreasurySecuritiesMember" xml:lang="en-US">US Treasury Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_USTreasurySecuritiesMember" xml:lang="en-US">US Treasury Securities [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:label="us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xml:lang="en-US">Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInOtherIncome" xml:lang="en-US">Unrealized Gains (Losses)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" />
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    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesIssuances" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesIssuances" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesIssuances_lbl" xml:lang="en-US">Purchases, Issuances</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesIssuances_lbl" xml:lang="en-US">Fair value measurement with  unobservable inputs reconciliation recurring basis asset purchases sales issuances settlements.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesSettlements" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesSettlements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesSettlements" xlink:to="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesSettlements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesSettlements_lbl" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales Settlements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesSettlements_lbl" xml:lang="en-US">Sales, Settlements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSalesSettlements_lbl" xml:lang="en-US">Fair value measurement with unobservable inputs reconciliation recurring basis asset sales settlements.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Opening Balance</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesPurchasesIssuances" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesPurchasesIssuances" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesPurchasesIssuances" xlink:to="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesPurchasesIssuances_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesPurchasesIssuances_lbl" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liabilities Purchases Issuances</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesPurchasesIssuances_lbl" xml:lang="en-US">Purchases, Issuances</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesPurchasesIssuances_lbl" xml:lang="en-US">Fair value measurement with unobservable inputs reconciliation recurring basis liabilities purchases issuances.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Assets:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Liabilities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:to="lab_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xml:lang="en-US">Notional amounts and fair values of derivatives by product</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_DerivativeProductAxis" xlink:label="opy_DerivativeProductAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_DerivativeProductAxis" xlink:to="opy_DerivativeProductAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_DerivativeProductAxis_lbl" xml:lang="en-US">Derivative Product [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_DerivativeProductAxis_lbl" xml:lang="en-US">Derivative product.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_DerivativeProductDomain" xlink:label="opy_DerivativeProductDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_DerivativeProductDomain" xlink:to="opy_DerivativeProductDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_DerivativeProductDomain_lbl" xml:lang="en-US">Derivative Product [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_DerivativeProductDomain_lbl" xml:lang="en-US">Derivative product.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeAssetFairValueNetAbstract" xlink:label="us-gaap_DerivativeAssetFairValueNetAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssetFairValueNetAbstract" xlink:to="lab_DerivativeAssetFairValueNetAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeAssetFairValueNetAbstract" xml:lang="en-US">Derivative Asset, Fair Value, Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeAssetFairValueNetAbstract" xml:lang="en-US">Assets:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeAssetFairValueNet" xlink:label="us-gaap_DerivativeAssetFairValueNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssetFairValueNet" xlink:to="lab_DerivativeAssetFairValueNet" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeAssetFairValueNet" xml:lang="en-US">Derivative Asset, Fair Value, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeAssetFairValueNet" xml:lang="en-US">Derivatives asset, Fair Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeLiabilityFairValueNet1" xlink:label="us-gaap_DerivativeLiabilityFairValueNet1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilityFairValueNet1" xlink:to="lab_DerivativeLiabilityFairValueNet1" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeLiabilityFairValueNet1" xml:lang="en-US">Derivative Liability, Fair Value, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeLiabilityFairValueNet1" xml:lang="en-US">Derivative liability, Fair Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeAssetNotionalAmount" xlink:label="us-gaap_DerivativeAssetNotionalAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssetNotionalAmount" xlink:to="lab_DerivativeAssetNotionalAmount" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeAssetNotionalAmount" xml:lang="en-US">Derivative Asset, Notional Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeAssetNotionalAmount" xml:lang="en-US">Derivatives asset, Notional</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeLiabilityNotionalAmount" xlink:label="us-gaap_DerivativeLiabilityNotionalAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilityNotionalAmount" xlink:to="lab_DerivativeLiabilityNotionalAmount" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeLiabilityNotionalAmount" xml:lang="en-US">Derivative Liability, Notional Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeLiabilityNotionalAmount" xml:lang="en-US">Derivative liability, notional</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_UsTreasuryFuturesMember" xlink:label="opy_UsTreasuryFuturesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_UsTreasuryFuturesMember" xlink:to="opy_UsTreasuryFuturesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_UsTreasuryFuturesMember_lbl" xml:lang="en-US">US Treasury Futures [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_UsTreasuryFuturesMember_lbl" xml:lang="en-US">U.S. Treasury Futures [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_UsTreasuryFuturesMember_lbl" xml:lang="en-US">U.S Treasury Futures.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeLiabilityFairValueNetAbstract" xlink:label="us-gaap_DerivativeLiabilityFairValueNetAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilityFairValueNetAbstract" xlink:to="lab_DerivativeLiabilityFairValueNetAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeLiabilityFairValueNetAbstract" xml:lang="en-US">Derivative Liability, Fair Value, Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeLiabilityFairValueNetAbstract" xml:lang="en-US">Liabilities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DesignatedAsHedgingInstrumentMember" xlink:label="us-gaap_DesignatedAsHedgingInstrumentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DesignatedAsHedgingInstrumentMember" xlink:to="lab_DesignatedAsHedgingInstrumentMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DesignatedAsHedgingInstrumentMember" xml:lang="en-US">Designated as Hedging Instrument [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DesignatedAsHedgingInstrumentMember" xml:lang="en-US">Derivatives designated as hedging instruments [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="us-gaap_NondesignatedMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NondesignatedMember" xlink:to="lab_NondesignatedMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_NondesignatedMember" xml:lang="en-US">Not Designated as Hedging Instrument [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_NondesignatedMember" xml:lang="en-US">Derivatives not designated as hedging instruments [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueByAssetClassAxis" xlink:label="us-gaap_FairValueByAssetClassAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByAssetClassAxis" xlink:to="lab_FairValueByAssetClassAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueByAssetClassAxis" xml:lang="en-US">Asset Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:to="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xml:lang="en-US">Fair Value by Asset Class [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentsMember" xlink:label="us-gaap_InvestmentsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsMember" xlink:to="lab_InvestmentsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InvestmentsMember" xml:lang="en-US">Investments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_InvestmentsMember" xml:lang="en-US">Investments [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="lab_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:label="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xlink:to="lab_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValuesDerivativesBalanceSheetLocationByDerivativeContractTypeByHedgingDesignationTable" xml:lang="en-US">Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestRateCapMember" xlink:label="us-gaap_InterestRateCapMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateCapMember" xlink:to="lab_InterestRateCapMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InterestRateCapMember" xml:lang="en-US">Interest Rate Cap [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_InterestRateCapMember" xml:lang="en-US">Interest Rate Cap [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_InterestRateCapMember" xml:lang="en-US">Cap [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AuctionRateSecuritiesMember" xlink:label="us-gaap_AuctionRateSecuritiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AuctionRateSecuritiesMember" xlink:to="lab_AuctionRateSecuritiesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AuctionRateSecuritiesMember" xml:lang="en-US">Auction Rate Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_AuctionRateSecuritiesMember" xml:lang="en-US">Auction Rate Securities [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_VariableInterestEntityLineItems" xml:lang="en-US">Variable Interest Entity [Line Items]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SeniorSubordinatedNotesMember" xml:lang="en-US">Senior Subordinated Notes [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LongTermDebtByCurrentAndNoncurrentAbstract" xml:lang="en-US">Long-term Debt, by Current and Noncurrent [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SeniorSecuredCreditNoteMember_lbl" xml:lang="en-US">Senior Secured Credit Note [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SeniorSecuredCreditNoteMember_lbl" xml:lang="en-US">Senior secured credit note.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SeniorSecuredCreditNoteMember_lbl" xml:lang="en-US">Senior Secured Credit Note [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_LongTermDebtTextualAbstract" xlink:label="opy_LongTermDebtTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_LongTermDebtTextualAbstract" xlink:to="opy_LongTermDebtTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_LongTermDebtTextualAbstract_lbl" xml:lang="en-US">Long Term Debt (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_LongTermDebtTextualAbstract_lbl" xml:lang="en-US">Long-Term Debt (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_LongTermDebtTextualAbstract_lbl" xml:lang="en-US">Long-term debt.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtIssuanceCosts" xlink:label="us-gaap_DebtIssuanceCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtIssuanceCosts" xlink:to="lab_DebtIssuanceCosts" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtIssuanceCosts" xml:lang="en-US">Debt Issuance Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_DebtIssuanceCosts" xml:lang="en-US">Debt issuance costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DebtIssuanceCosts" xml:lang="en-US">Cost to issue the Notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpenseLongTermDebt" xlink:label="us-gaap_InterestExpenseLongTermDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseLongTermDebt" xlink:to="lab_InterestExpenseLongTermDebt" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InterestExpenseLongTermDebt" xml:lang="en-US">Interest Expense, Long-term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_InterestExpenseLongTermDebt" xml:lang="en-US">Interest expense on note</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="lab_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xml:lang="en-US">Changes in the number of shares of Class A Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" xml:lang="en-US">Issued pursuant to the share-based compensation plans</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="lab_DebtInstrumentTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentTable" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="lab_LongtermDebtTypeAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LongtermDebtTypeAxis" xml:lang="en-US">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="lab_LongtermDebtTypeDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LongtermDebtTypeDomain" xml:lang="en-US">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="lab_DebtInstrumentLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentLineItems" xml:lang="en-US">Debt Instrument [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:to="lab_ProceedsFromIssuanceOfPrivatePlacement" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ProceedsFromIssuanceOfPrivatePlacement" xml:lang="en-US">Proceeds from Issuance of Private Placement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ProceedsFromIssuanceOfPrivatePlacement" xml:lang="en-US">Proceeds from the private placement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xml:lang="en-US">Reported revenue and profit before income taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingInformationRevenueAbstract" xlink:label="us-gaap_SegmentReportingInformationRevenueAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationRevenueAbstract" xlink:to="lab_SegmentReportingInformationRevenueAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingInformationRevenueAbstract" xml:lang="en-US">Segment Reporting Information, Revenue for Reportable Segment [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentReportingInformationRevenueAbstract" xml:lang="en-US">Revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingInformationProfitLossAbstract" xlink:label="us-gaap_SegmentReportingInformationProfitLossAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationProfitLossAbstract" xlink:to="lab_SegmentReportingInformationProfitLossAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingInformationProfitLossAbstract" xml:lang="en-US">Segment Reporting Information, Profit (Loss) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentReportingInformationProfitLossAbstract" xml:lang="en-US">Reported revenue and profit before income taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingInformationRevenue" xlink:label="us-gaap_SegmentReportingInformationRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationRevenue" xlink:to="lab_SegmentReportingInformationRevenue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingInformationRevenue" xml:lang="en-US">Segment Reporting Information, Revenue for Reportable Segment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentReportingInformationRevenue" xml:lang="en-US">Total Revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:label="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xlink:to="lab_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xml:lang="en-US">Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentReportingInformationIncomeLossBeforeIncomeTaxesAbstract" xml:lang="en-US">Profit (loss) before taxes</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CapitalMarketsMember" xlink:label="opy_CapitalMarketsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CapitalMarketsMember" xlink:to="opy_CapitalMarketsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CapitalMarketsMember_lbl" xml:lang="en-US">Capital Markets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CapitalMarketsMember_lbl" xml:lang="en-US">Capital Markets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CapitalMarketsMember_lbl" xml:lang="en-US">Capital markets.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="lab_ScheduleOfSegmentReportingInformationBySegmentTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfSegmentReportingInformationBySegmentTable" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="us-gaap_StatementBusinessSegmentsAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="lab_StatementBusinessSegmentsAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StatementBusinessSegmentsAxis" xml:lang="en-US">Business Segments [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentDomain" xlink:label="us-gaap_SegmentDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDomain" xlink:to="lab_SegmentDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentDomain" xml:lang="en-US">Segment [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="us-gaap_SegmentReportingInformationLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationLineItems" xlink:to="lab_SegmentReportingInformationLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingInformationLineItems" xml:lang="en-US">Segment Reporting Information [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentGeographicalGroupsOfCountriesGroupOneMember" xlink:label="us-gaap_SegmentGeographicalGroupsOfCountriesGroupOneMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentGeographicalGroupsOfCountriesGroupOneMember" xlink:to="lab_SegmentGeographicalGroupsOfCountriesGroupOneMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentGeographicalGroupsOfCountriesGroupOneMember" xml:lang="en-US">Segment, Geographical, Groups of Countries, Group One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentGeographicalGroupsOfCountriesGroupOneMember" xml:lang="en-US">Europe / Middle East [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentGeographicalGroupsOfCountriesGroupTwoMember" xlink:label="us-gaap_SegmentGeographicalGroupsOfCountriesGroupTwoMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentGeographicalGroupsOfCountriesGroupTwoMember" xlink:to="lab_SegmentGeographicalGroupsOfCountriesGroupTwoMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentGeographicalGroupsOfCountriesGroupTwoMember" xml:lang="en-US">Segment, Geographical, Groups of Countries, Group Two [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentGeographicalGroupsOfCountriesGroupTwoMember" xml:lang="en-US">Asia [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SegmentGeographicalGroupsOfCountriesGroupThreeMember" xlink:label="opy_SegmentGeographicalGroupsOfCountriesGroupThreeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SegmentGeographicalGroupsOfCountriesGroupThreeMember" xlink:to="opy_SegmentGeographicalGroupsOfCountriesGroupThreeMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SegmentGeographicalGroupsOfCountriesGroupThreeMember_lbl" xml:lang="en-US">Segment Geographical Groups of Countries Group Three [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SegmentGeographicalGroupsOfCountriesGroupThreeMember_lbl" xml:lang="en-US">South America [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SegmentGeographicalGroupsOfCountriesGroupThreeMember_lbl" xml:lang="en-US">Segment geographical groups of countries group three.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentsGeographicalAreasAbstract" xlink:label="us-gaap_SegmentsGeographicalAreasAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentsGeographicalAreasAbstract" xlink:to="lab_SegmentsGeographicalAreasAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentsGeographicalAreasAbstract" xml:lang="en-US">Segments, Geographical Areas [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentsGeographicalAreasAbstract" xml:lang="en-US">Revenues, classified by the major geographic areas</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2012/country-2012-01-31.xsd#country_US" xlink:label="country_US" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="lab_US" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_US" xml:lang="en-US">UNITED STATES</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_US" xml:lang="en-US">United States [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_AssetManagementRevenue" xlink:label="opy_AssetManagementRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_AssetManagementRevenue" xlink:to="opy_AssetManagementRevenue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_AssetManagementRevenue_lbl" xml:lang="en-US">Asset Management Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_AssetManagementRevenue_lbl" xml:lang="en-US">Asset management revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_AssetManagementRevenue_lbl" xml:lang="en-US">Asset management revenue.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SegmentInformationTextualAbstract" xlink:label="opy_SegmentInformationTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SegmentInformationTextualAbstract" xlink:to="opy_SegmentInformationTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SegmentInformationTextualAbstract_lbl" xml:lang="en-US">Segment Information (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SegmentInformationTextualAbstract_lbl" xml:lang="en-US">Segment information (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SegmentInformationTextualAbstract_lbl" xml:lang="en-US">Segment information.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsTable" xlink:label="us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsTable" xlink:to="lab_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsTable" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StatementGeographicalAxis" xml:lang="en-US">Geographical [Axis]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentGeographicalDomain" xlink:to="lab_SegmentGeographicalDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentGeographicalDomain" xml:lang="en-US">Segment, Geographical [Domain]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OppenheimerMember" xlink:to="opy_OppenheimerMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OppenheimerMember_lbl" xml:lang="en-US">Oppenheimer [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OppenheimerMember_lbl" xml:lang="en-US">Oppenheimer [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OppenheimerMember_lbl" xml:lang="en-US">Oppenheimer.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FreedomMember" xlink:to="opy_FreedomMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FreedomMember_lbl" xml:lang="en-US">Freedom [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FreedomMember_lbl" xml:lang="en-US">Freedom [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FreedomMember_lbl" xml:lang="en-US">Freedom.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OppenheimerEuropeMember" xlink:to="opy_OppenheimerEuropeMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OppenheimerEuropeMember_lbl" xml:lang="en-US">Oppenheimer Europe [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OppenheimerEuropeMember_lbl" xml:lang="en-US">Oppenheimer Europe [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OppenheimerEuropeMember_lbl" xml:lang="en-US">Oppenheimer Europe</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OppenheimerInvestmentsAsiaMember" xlink:label="opy_OppenheimerInvestmentsAsiaMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OppenheimerInvestmentsAsiaMember" xlink:to="opy_OppenheimerInvestmentsAsiaMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OppenheimerInvestmentsAsiaMember_lbl" xml:lang="en-US">Oppenheimer Investments Asia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OppenheimerInvestmentsAsiaMember_lbl" xml:lang="en-US">Oppenheimer Investments Asia [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OppenheimerInvestmentsAsiaMember_lbl" xml:lang="en-US">Oppenheimer investments Asia.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetCapital" xlink:label="us-gaap_NetCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCapital" xlink:to="lab_NetCapital" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_NetCapital" xml:lang="en-US">Net Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_NetCapital" xml:lang="en-US">Net Capital</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AlternativeExcessNetCapital" xlink:label="us-gaap_AlternativeExcessNetCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AlternativeExcessNetCapital" xlink:to="lab_AlternativeExcessNetCapital" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AlternativeExcessNetCapital" xml:lang="en-US">Alternative Excess Net Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AlternativeExcessNetCapital" xml:lang="en-US">Excess net capital</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumNetCapitalRequired1" xlink:to="lab_MinimumNetCapitalRequired1" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MinimumNetCapitalRequired1" xml:lang="en-US">Minimum Net Capital Required</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_MinimumNetCapitalRequired1" xml:lang="en-US">Regulatory capital required to be maintained</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="lab_LegalEntityAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LegalEntityAxis" xml:lang="en-US">Legal Entity [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="lab_EntityDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EntityDomain" xml:lang="en-US">Entity [Domain]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_DepositWithClearingOrganizationsAndOthersSecurities" xlink:label="opy_DepositWithClearingOrganizationsAndOthersSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_DepositWithClearingOrganizationsAndOthersSecurities" xlink:to="opy_DepositWithClearingOrganizationsAndOthersSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_DepositWithClearingOrganizationsAndOthersSecurities_lbl" xml:lang="en-US">Deposit with Clearing Organizations and Others Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_DepositWithClearingOrganizationsAndOthersSecurities_lbl" xml:lang="en-US">Deposits with clearing organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_DepositWithClearingOrganizationsAndOthersSecurities_lbl" xml:lang="en-US">Deposit with clearing organizations and others securities.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReceivable" xlink:to="lab_IncomeTaxReceivable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxReceivable" xml:lang="en-US">Income Taxes Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeTaxReceivable" xml:lang="en-US">Income taxes receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ParentMember" xlink:label="us-gaap_ParentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ParentMember" xlink:to="lab_ParentMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ParentMember" xml:lang="en-US">Parent [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ParentMember" xml:lang="en-US">Parent [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_GuarantorSubsidiariesMember" xlink:label="us-gaap_GuarantorSubsidiariesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GuarantorSubsidiariesMember" xlink:to="lab_GuarantorSubsidiariesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_GuarantorSubsidiariesMember" xml:lang="en-US">Guarantor Subsidiaries [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_GuarantorSubsidiariesMember" xml:lang="en-US">Guarantor Subsidiaries [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NonGuarantorSubsidiariesMember" xlink:label="us-gaap_NonGuarantorSubsidiariesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonGuarantorSubsidiariesMember" xlink:to="lab_NonGuarantorSubsidiariesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_NonGuarantorSubsidiariesMember" xml:lang="en-US">Non-Guarantor Subsidiaries [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_NonGuarantorSubsidiariesMember" xml:lang="en-US">Non-guarantor Subsidiaries [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SubsequentEventsTextualAbstract" xlink:label="opy_SubsequentEventsTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SubsequentEventsTextualAbstract" xlink:to="opy_SubsequentEventsTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SubsequentEventsTextualAbstract_lbl" xml:lang="en-US">Subsequent Events (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SubsequentEventsTextualAbstract_lbl" xml:lang="en-US">Subsequent Events (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SubsequentEventsTextualAbstract_lbl" xml:lang="en-US">Subsequent events.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableTable" xlink:to="lab_DividendsPayableTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DividendsPayableTable" xml:lang="en-US">Dividends Payable [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableLineItems" xlink:label="us-gaap_DividendsPayableLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableLineItems" xlink:to="lab_DividendsPayableLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DividendsPayableLineItems" xml:lang="en-US">Dividends Payable [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfCondensedFinancialStatementsTable" xlink:label="us-gaap_ScheduleOfCondensedFinancialStatementsTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfCondensedFinancialStatementsTable" xlink:to="lab_ScheduleOfCondensedFinancialStatementsTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfCondensedFinancialStatementsTable" xml:lang="en-US">Schedule of Condensed Financial Statements [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConsolidationEliminationsMember" xlink:label="us-gaap_ConsolidationEliminationsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationEliminationsMember" xlink:to="lab_ConsolidationEliminationsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConsolidationEliminationsMember" xml:lang="en-US">Consolidation, Eliminations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ConsolidationEliminationsMember" xml:lang="en-US">Eliminations [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CondensedFinancialStatementsCaptionsLineItems" xlink:label="us-gaap_CondensedFinancialStatementsCaptionsLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialStatementsCaptionsLineItems" xlink:to="lab_CondensedFinancialStatementsCaptionsLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CondensedFinancialStatementsCaptionsLineItems" xml:lang="en-US">Condensed Financial Statements, Captions [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:to="lab_ProceedsFromPaymentsForOtherFinancingActivities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ProceedsFromPaymentsForOtherFinancingActivities" xml:lang="en-US">Proceeds from (Payments for) Other Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ProceedsFromPaymentsForOtherFinancingActivities" xml:lang="en-US">Other financing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" xlink:label="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount" xlink:to="lab_DebtInstrumentUnusedBorrowingCapacityAmount" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DebtInstrumentUnusedBorrowingCapacityAmount" xml:lang="en-US">Remaining principal balance of note</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentUnusedBorrowingCapacityAmount" xml:lang="en-US">Debt Instrument, Unused Borrowing Capacity, Amount</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FinancialInstrumentsTextualAbstract" xlink:label="opy_FinancialInstrumentsTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FinancialInstrumentsTextualAbstract" xlink:to="opy_FinancialInstrumentsTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FinancialInstrumentsTextualAbstract_lbl" xml:lang="en-US">Financial Instruments (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FinancialInstrumentsTextualAbstract_lbl" xml:lang="en-US">Financial Instruments (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FinancialInstrumentsTextualAbstract_lbl" xml:lang="en-US">Financial instruments.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="lab_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Assets and liabilities measured at fair value on a recurring basis</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:label="us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xml:lang="en-US">Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xml:lang="en-US">Fair value amounts of derivative instruments and their effect on the statement of operations</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_DocumentAndEntityInformationAbstract" xlink:label="opy_DocumentAndEntityInformationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_DocumentAndEntityInformationAbstract" xlink:to="opy_DocumentAndEntityInformationAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document and Entity Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document and entity information.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="lab_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xml:lang="en-US">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xml:lang="en-US">Company issued a warrant to purchase share of Class A Stock</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CommonStockClassOneNonVotingMember" xlink:label="opy_CommonStockClassOneNonVotingMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CommonStockClassOneNonVotingMember" xlink:to="opy_CommonStockClassOneNonVotingMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CommonStockClassOneNonVotingMember_lbl" xml:lang="en-US">Common Stock Class One Non Voting [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CommonStockClassOneNonVotingMember_lbl" xml:lang="en-US">Common Stock Class A Non Voting [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CommonStockClassOneNonVotingMember_lbl" xml:lang="en-US">Common stock class one non voting.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CibcWorldMarketsMember" xlink:label="opy_CibcWorldMarketsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CibcWorldMarketsMember" xlink:to="opy_CibcWorldMarketsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CibcWorldMarketsMember_lbl" xml:lang="en-US">CIBC World Markets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CibcWorldMarketsMember_lbl" xml:lang="en-US">CIBC World Markets Corp [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CibcWorldMarketsMember_lbl" xml:lang="en-US">CIBC world markets.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ClassOfWarrantOrRightExercisablePriceStockPurchase" xlink:label="opy_ClassOfWarrantOrRightExercisablePriceStockPurchase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ClassOfWarrantOrRightExercisablePriceStockPurchase" xlink:to="opy_ClassOfWarrantOrRightExercisablePriceStockPurchase_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ClassOfWarrantOrRightExercisablePriceStockPurchase_lbl" xml:lang="en-US">Class of Warrant or Right Exercisable Price Stock Purchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ClassOfWarrantOrRightExercisablePriceStockPurchase_lbl" xml:lang="en-US">Class A Stock exercisable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ClassOfWarrantOrRightExercisablePriceStockPurchase_lbl" xml:lang="en-US">Class of warrant or right exercisable price stock purchase.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ClassOfWarrantOrRightTermExercisePeriod" xlink:label="opy_ClassOfWarrantOrRightTermExercisePeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ClassOfWarrantOrRightTermExercisePeriod" xlink:to="opy_ClassOfWarrantOrRightTermExercisePeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ClassOfWarrantOrRightTermExercisePeriod_lbl" xml:lang="en-US">Class of Warrant or Right Term Exercise Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ClassOfWarrantOrRightTermExercisePeriod_lbl" xml:lang="en-US">Period for exercise of warrant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ClassOfWarrantOrRightTermExercisePeriod_lbl" xml:lang="en-US">Class of warrant or right term exercise period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:to="lab_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xml:lang="en-US">Antidilutive Securities [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesNameDomain" xlink:to="lab_AntidilutiveSecuritiesNameDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AntidilutiveSecuritiesNameDomain" xml:lang="en-US">Antidilutive Securities, Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockCompensationPlanMember" xlink:label="us-gaap_StockCompensationPlanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockCompensationPlanMember" xlink:to="lab_StockCompensationPlanMember" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="lab_WarrantMember" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DueFromCorrespondentBrokers" xlink:label="us-gaap_DueFromCorrespondentBrokers" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromCorrespondentBrokers" xlink:to="lab_DueFromCorrespondentBrokers" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DueFromCorrespondentBrokers" xml:lang="en-US">Due from Correspondent Brokers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DueFromCorrespondentBrokers" xml:lang="en-US">Receivable from brokers</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LitigationSettlementGross" xlink:label="us-gaap_LitigationSettlementGross" />
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_RequiredPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems" xlink:label="opy_RequiredPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_RequiredPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems" xlink:to="opy_RequiredPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_RequiredPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" xml:lang="en-US">Required Percentage of Net Capital to Aggregate Customer Related Debit Items</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_RequiredPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" xml:lang="en-US">Required Percentage of net capital to aggregate customer-related debit items</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_RequiredPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" xml:lang="en-US">Required percentage of net capital to aggregate customer related debit items.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ActualPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems" xlink:label="opy_ActualPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ActualPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems" xlink:to="opy_ActualPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ActualPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" xml:lang="en-US">Actual Percentage of Net Capital to Aggregate Customer Related Debit Items</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ActualPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" xml:lang="en-US">Actual Percentage of net capital to aggregate customer-related debit items</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ActualPercentageOfNetCapitalToAggregateCustomerRelatedDebitItems_lbl" xml:lang="en-US">Actual percentage of net capital to aggregate customer related debit items.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersTable" xlink:label="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersTable" xlink:to="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersTable_lbl" xml:lang="en-US">Schedule of Compliance with Regulatory Capital Requirements under Brokers and Dealers [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersTable_lbl" xml:lang="en-US">Schedule of compliance with regulatory capital requirements under brokers and dealers.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersLineItems" xlink:label="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersLineItems" xlink:to="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersLineItems_lbl" xml:lang="en-US">Schedule of Compliance with Regulatory Capital Requirements under Brokers and Dealers [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBrokersAndDealersLineItems_lbl" xml:lang="en-US">Schedule of compliance with regulatory capital requirements under brokers and dealers.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinimumNetCapitalRequiredForBrokerDealerSubsidiary1" xlink:label="us-gaap_MinimumNetCapitalRequiredForBrokerDealerSubsidiary1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumNetCapitalRequiredForBrokerDealerSubsidiary1" xlink:to="lab_MinimumNetCapitalRequiredForBrokerDealerSubsidiary1" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MinimumNetCapitalRequiredForBrokerDealerSubsidiary1" xml:lang="en-US">Minimum Net Capital Required for Broker-Dealer Subsidiary</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_MinimumNetCapitalRequiredForBrokerDealerSubsidiary1" xml:lang="en-US">Freedom maintain net capital equal to the greater</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_PercentageOfNetCapitalToAggregateIndebtedness" xlink:label="opy_PercentageOfNetCapitalToAggregateIndebtedness" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_PercentageOfNetCapitalToAggregateIndebtedness" xlink:to="opy_PercentageOfNetCapitalToAggregateIndebtedness_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_PercentageOfNetCapitalToAggregateIndebtedness_lbl" xml:lang="en-US">Percentage of Net Capital to Aggregate Indebtedness</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_PercentageOfNetCapitalToAggregateIndebtedness_lbl" xml:lang="en-US">Aggregate indebtedness</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_PercentageOfNetCapitalToAggregateIndebtedness_lbl" xml:lang="en-US">Percentage of net capital to aggregate indebtedness.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ExcessNetCapitalAt1500Percent" xlink:label="us-gaap_ExcessNetCapitalAt1500Percent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExcessNetCapitalAt1500Percent" xlink:to="lab_ExcessNetCapitalAt1500Percent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ExcessNetCapitalAt1500Percent" xml:lang="en-US">Excess Net Capital at 1500 Percent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ExcessNetCapitalAt1500Percent" xml:lang="en-US">Excess net capital</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_PrivateClientMember" xlink:label="opy_PrivateClientMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_PrivateClientMember" xlink:to="opy_PrivateClientMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_PrivateClientMember_lbl" xml:lang="en-US">Private Client [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_PrivateClientMember_lbl" xml:lang="en-US">Private Client [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_PrivateClientMember_lbl" xml:lang="en-US">Private client.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_MajorityInterestOwnershipPercentageByParent" xlink:label="opy_MajorityInterestOwnershipPercentageByParent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_MajorityInterestOwnershipPercentageByParent" xlink:to="opy_MajorityInterestOwnershipPercentageByParent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_MajorityInterestOwnershipPercentageByParent_lbl" xml:lang="en-US">Majority Interest Ownership Percentage by Parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_MajorityInterestOwnershipPercentageByParent_lbl" xml:lang="en-US">Company owned OMHHF</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_MajorityInterestOwnershipPercentageByParent_lbl" xml:lang="en-US">Majority interest ownership percentage by parent.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_UnrecognizedTaxBenefitsAndInterestAccrued" xlink:label="opy_UnrecognizedTaxBenefitsAndInterestAccrued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_UnrecognizedTaxBenefitsAndInterestAccrued" xlink:to="opy_UnrecognizedTaxBenefitsAndInterestAccrued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_UnrecognizedTaxBenefitsAndInterestAccrued_lbl" xml:lang="en-US">Unrecognized Tax Benefits and Interest Accrued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_UnrecognizedTaxBenefitsAndInterestAccrued_lbl" xml:lang="en-US">Establishment of a reserve</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_UnrecognizedTaxBenefitsAndInterestAccrued_lbl" xml:lang="en-US">Unrecognized tax benefits and interest accrued.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CurrentAndDeferredTaxCumulativeAdjustmentPriorPeriod" xlink:label="opy_CurrentAndDeferredTaxCumulativeAdjustmentPriorPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CurrentAndDeferredTaxCumulativeAdjustmentPriorPeriod" xlink:to="opy_CurrentAndDeferredTaxCumulativeAdjustmentPriorPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CurrentAndDeferredTaxCumulativeAdjustmentPriorPeriod_lbl" xml:lang="en-US">Current and Deferred Tax Cumulative Adjustment Prior Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CurrentAndDeferredTaxCumulativeAdjustmentPriorPeriod_lbl" xml:lang="en-US">Current and Deferred tax items</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CurrentAndDeferredTaxCumulativeAdjustmentPriorPeriod_lbl" xml:lang="en-US">Current and deferred tax cumulative adjustment prior period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ImpactOfRestatementOnOpeningRetainedEarningsNetOfTax" xlink:label="us-gaap_ImpactOfRestatementOnOpeningRetainedEarningsNetOfTax" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpactOfRestatementOnOpeningRetainedEarningsNetOfTax" xlink:to="lab_ImpactOfRestatementOnOpeningRetainedEarningsNetOfTax" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ImpactOfRestatementOnOpeningRetainedEarningsNetOfTax" xml:lang="en-US">Impact of Restatement on Opening Retained Earnings, Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ImpactOfRestatementOnOpeningRetainedEarningsNetOfTax" xml:lang="en-US">Retained earnings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis" xlink:label="us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorTypesOfDebtAndEquitySecuritiesAxis" xlink:to="lab_MajorTypesOfDebtAndEquitySecuritiesAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MajorTypesOfDebtAndEquitySecuritiesAxis" xml:lang="en-US">Major Types of Debt and Equity Securities [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain" xlink:label="us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain" xlink:to="lab_MajorTypesOfDebtAndEquitySecuritiesDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MajorTypesOfDebtAndEquitySecuritiesDomain" xml:lang="en-US">Major Types of Debt and Equity Securities [Domain]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_GoodwillImpairmentTestingPolicyTextBlock" xlink:label="opy_GoodwillImpairmentTestingPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_GoodwillImpairmentTestingPolicyTextBlock" xlink:to="opy_GoodwillImpairmentTestingPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_GoodwillImpairmentTestingPolicyTextBlock_lbl" xml:lang="en-US">Goodwill Impairment Testing [Policy Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_GoodwillImpairmentTestingPolicyTextBlock_lbl" xml:lang="en-US">Testing Goodwill for Impairment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_GoodwillImpairmentTestingPolicyTextBlock_lbl" xml:lang="en-US">Goodwill impairment testing.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentCallDateLatest" xlink:label="us-gaap_DebtInstrumentCallDateLatest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCallDateLatest" xlink:to="us-gaap_DebtInstrumentCallDateLatest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentCallDateLatest_lbl" xml:lang="en-US">Date of retirement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCallDateLatest_lbl" xml:lang="en-US">Debt Instrument Call Date Latest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfNotesPayable" xlink:label="us-gaap_ProceedsFromRepaymentsOfNotesPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRepaymentsOfNotesPayable" xlink:to="us-gaap_ProceedsFromRepaymentsOfNotesPayable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRepaymentsOfNotesPayable_lbl" xml:lang="en-US">Proceeds From Repayments Of Notes Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromRepaymentsOfNotesPayable_lbl" xml:lang="en-US">Retirement of notes</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_TermOfSeniorSecuredCreditNote" xlink:label="opy_TermOfSeniorSecuredCreditNote" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_TermOfSeniorSecuredCreditNote" xlink:to="opy_TermOfSeniorSecuredCreditNote_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_TermOfSeniorSecuredCreditNote_lbl" xml:lang="en-US">Term of Senior Secured Credit Note</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_TermOfSeniorSecuredCreditNote_lbl" xml:lang="en-US">Term of Senior Secured Credit Note</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_TermOfSeniorSecuredCreditNote_lbl" xml:lang="en-US">Term of senior secured credit note.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WriteOffOfDeferredDebtIssuanceCost" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WriteOffOfDeferredDebtIssuanceCost" xlink:to="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xml:lang="en-US">Write Off Of Deferred Debt Issuance Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WriteOffOfDeferredDebtIssuanceCost_lbl" xml:lang="en-US">Unamortized debt issuance costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt_lbl" xml:lang="en-US">Proceeds From Issuance Of Subordinated Long Term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt_lbl" xml:lang="en-US">Proceeds from issuance of Subordinated Note</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableDateDeclaredDayMonthAndYear" xlink:label="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear" xlink:to="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl" xml:lang="en-US">Dividends Payable Date Declared Day Month and Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DividendsPayableDateDeclaredDayMonthAndYear_lbl" xml:lang="en-US">Date of announcement of dividend</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendPayableDateToBePaidDayMonthAndYear" xlink:label="us-gaap_DividendPayableDateToBePaidDayMonthAndYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendPayableDateToBePaidDayMonthAndYear" xlink:to="us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl" xml:lang="en-US">Dividend Payable Date to be Paid Day Month and Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DividendPayableDateToBePaidDayMonthAndYear_lbl" xml:lang="en-US">Date of payment of dividend</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsPayableDateOfRecordDayMonthAndYear" xlink:label="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear" xlink:to="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl" xml:lang="en-US">Dividends Payable Date of Record Day Month and Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DividendsPayableDateOfRecordDayMonthAndYear_lbl" xml:lang="en-US">Date of record of dividend</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SubordinatedLoanReceivable" xlink:label="opy_SubordinatedLoanReceivable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SubordinatedLoanReceivable" xlink:to="opy_SubordinatedLoanReceivable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SubordinatedLoanReceivable_lbl" xml:lang="en-US">Subordinated Loan Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SubordinatedLoanReceivable_lbl" xml:lang="en-US">Subordinated loan receivable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SubordinatedLoanReceivable_lbl" xml:lang="en-US">Subordinated loan receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentsInAndAdvancesToAffiliatesAmountOfEquity" xlink:label="us-gaap_InvestmentsInAndAdvancesToAffiliatesAmountOfEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsInAndAdvancesToAffiliatesAmountOfEquity" xlink:to="lab_InvestmentsInAndAdvancesToAffiliatesAmountOfEquity" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InvestmentsInAndAdvancesToAffiliatesAmountOfEquity" xml:lang="en-US">Investments in and Advances to Affiliates, Amount of Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_InvestmentsInAndAdvancesToAffiliatesAmountOfEquity" xml:lang="en-US">Investment in subsidiaries</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="us-gaap_DueFromRelatedParties" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="lab_DueFromRelatedParties" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DueFromRelatedParties" xml:lang="en-US">Due from Related Parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DueFromRelatedParties" xml:lang="en-US">Intercompany receivables</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:label="us-gaap_AccountsPayableAndOtherAccruedLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:to="lab_AccountsPayableAndOtherAccruedLiabilities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccountsPayableAndOtherAccruedLiabilities" xml:lang="en-US">Accounts Payable and Other Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccountsPayableAndOtherAccruedLiabilities" xml:lang="en-US">Accounts payable and other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:to="lab_DueToRelatedPartiesCurrentAndNoncurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DueToRelatedPartiesCurrentAndNoncurrent" xml:lang="en-US">Due to Related Parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DueToRelatedPartiesCurrentAndNoncurrent" xml:lang="en-US">Intercompany payables</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AccruedIncomeTaxes" xlink:label="us-gaap_AccruedIncomeTaxes" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxes" xlink:to="lab_AccruedIncomeTaxes" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccruedIncomeTaxes" xml:lang="en-US">Income tax payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccruedIncomeTaxes" xml:lang="en-US">Accrued Income Taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xlink:to="lab_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xml:lang="en-US">Income (Loss) from Equity Method Investments, Net of Dividends or Distributions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions" xml:lang="en-US">Equity in subsidiaries</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfSecuritiesOwnedAndSoldNotYetPurchasedAtFairValueTextBlock" xlink:label="us-gaap_ScheduleOfSecuritiesOwnedAndSoldNotYetPurchasedAtFairValueTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSecuritiesOwnedAndSoldNotYetPurchasedAtFairValueTextBlock" xlink:to="lab_ScheduleOfSecuritiesOwnedAndSoldNotYetPurchasedAtFairValueTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfSecuritiesOwnedAndSoldNotYetPurchasedAtFairValueTextBlock" xml:lang="en-US">Schedule of Securities Owned and Sold, Not yet Purchased, at Fair Value [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfSecuritiesOwnedAndSoldNotYetPurchasedAtFairValueTextBlock" xml:lang="en-US">Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ScheduleOfSponsoredFundInvestmentsTableTextBlock" xlink:label="opy_ScheduleOfSponsoredFundInvestmentsTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ScheduleOfSponsoredFundInvestmentsTableTextBlock" xlink:to="opy_ScheduleOfSponsoredFundInvestmentsTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ScheduleOfSponsoredFundInvestmentsTableTextBlock_lbl" xml:lang="en-US">Schedule of Sponsored Fund Investments [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ScheduleOfSponsoredFundInvestmentsTableTextBlock_lbl" xml:lang="en-US">Investments in Company-sponsored funds</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ScheduleOfSponsoredFundInvestmentsTableTextBlock_lbl" xml:lang="en-US">Schedule of sponsored fund investments.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:to="lab_ScheduleOfVariableInterestEntitiesTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfVariableInterestEntitiesTextBlock" xml:lang="en-US">Schedule of Variable Interest Entities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfVariableInterestEntitiesTextBlock" xml:lang="en-US">Variable Interest Entities</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock" xlink:label="opy_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock" xlink:to="opy_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_lbl" xml:lang="en-US">Fair Value Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_lbl" xml:lang="en-US">Changes in Level 3 assets and liabilities measured at fair value on a recurring basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_lbl" xml:lang="en-US">Fair value assets and liabilities measured on recurring basis unobservable input reconciliation.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfStockByClassTextBlock" xlink:label="us-gaap_ScheduleOfStockByClassTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfStockByClassTextBlock" xlink:to="lab_ScheduleOfStockByClassTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfStockByClassTextBlock" xml:lang="en-US">Schedule of Stock by Class [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfStockByClassTextBlock" xml:lang="en-US">Changes in the number of shares of Class A Stock outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_USTreasuryAndGovernmentMember" xlink:label="us-gaap_USTreasuryAndGovernmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_USTreasuryAndGovernmentMember" xlink:to="lab_USTreasuryAndGovernmentMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_USTreasuryAndGovernmentMember" xml:lang="en-US">US Treasury and Government [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_USTreasuryAndGovernmentMember" xml:lang="en-US">U.S. Treasury, agency and sovereign obligations [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CorporateEquitiesMember" xlink:label="opy_CorporateEquitiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CorporateEquitiesMember" xlink:to="opy_CorporateEquitiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CorporateEquitiesMember_lbl" xml:lang="en-US">Corporate Equities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CorporateEquitiesMember_lbl" xml:lang="en-US">Corporate equities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CorporateEquitiesMember_lbl" xml:lang="en-US">Corporate equities.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OtherSecuritiesMember" xlink:label="opy_OtherSecuritiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OtherSecuritiesMember" xlink:to="opy_OtherSecuritiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OtherSecuritiesMember_lbl" xml:lang="en-US">Other Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OtherSecuritiesMember_lbl" xml:lang="en-US">Other [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OtherSecuritiesMember_lbl" xml:lang="en-US">Other securities.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MarketableSecurities" xlink:label="us-gaap_MarketableSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketableSecurities" xlink:to="lab_MarketableSecurities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MarketableSecurities" xml:lang="en-US">Marketable Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_MarketableSecurities" xml:lang="en-US">Securities owned, at fair value</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OtherSecuritiesAssetsMember" xlink:label="opy_OtherSecuritiesAssetsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OtherSecuritiesAssetsMember" xlink:to="opy_OtherSecuritiesAssetsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OtherSecuritiesAssetsMember_lbl" xml:lang="en-US">Other Securities Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OtherSecuritiesAssetsMember_lbl" xml:lang="en-US">Other [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OtherSecuritiesAssetsMember_lbl" xml:lang="en-US">Other securities assets.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="us-gaap_DerivativeAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeAssets" xlink:to="lab_DerivativeAssets" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeAssets" xml:lang="en-US">Derivative Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeAssets" xml:lang="en-US">Derivative contracts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="us-gaap_DerivativeLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLiabilities" xlink:to="lab_DerivativeLiabilities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeLiabilities" xml:lang="en-US">Derivative Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeLiabilities" xml:lang="en-US">Derivative contracts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets" xlink:to="lab_VariableInterestEntityNonconsolidatedCarryingAmountAssets" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" xlink:to="lab_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" />
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_VariableInterestEntityAssets" xlink:label="opy_VariableInterestEntityAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_VariableInterestEntityAssets" xlink:to="opy_VariableInterestEntityAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_VariableInterestEntityAssets_lbl" xml:lang="en-US">Variable Interest Entity Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_VariableInterestEntityAssets_lbl" xml:lang="en-US">Total VIE Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_VariableInterestEntityAssets_lbl" xml:lang="en-US">Variable interest entity assets.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="lab_ScheduleOfVariableInterestEntitiesTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfVariableInterestEntitiesTable" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CorporateEquitiesLiabilitiesMember" xlink:label="opy_CorporateEquitiesLiabilitiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CorporateEquitiesLiabilitiesMember" xlink:to="opy_CorporateEquitiesLiabilitiesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CorporateEquitiesLiabilitiesMember_lbl" xml:lang="en-US">Corporate Equities Liabilities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CorporateEquitiesLiabilitiesMember_lbl" xml:lang="en-US">Corporate equities liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CorporateEquitiesLiabilitiesMember_lbl" xml:lang="en-US">Corporate equities liabilities [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SecuritiesCommittedToPurchaseAmount" xlink:label="opy_SecuritiesCommittedToPurchaseAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SecuritiesCommittedToPurchaseAmount" xlink:to="opy_SecuritiesCommittedToPurchaseAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SecuritiesCommittedToPurchaseAmount_lbl" xml:lang="en-US">Securities Committed to Purchase Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SecuritiesCommittedToPurchaseAmount_lbl" xml:lang="en-US">Commitment to purchase ARS from clients through 2016</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SecuritiesCommittedToPurchaseAmount_lbl" xml:lang="en-US">Securities committed to purchase amount.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SecuritiesCommittedToPurchasePeriod" xlink:label="opy_SecuritiesCommittedToPurchasePeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SecuritiesCommittedToPurchasePeriod" xlink:to="opy_SecuritiesCommittedToPurchasePeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SecuritiesCommittedToPurchasePeriod_lbl" xml:lang="en-US">Securities Committed to Purchase Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SecuritiesCommittedToPurchasePeriod_lbl" xml:lang="en-US">Commitment to purchase ARS period maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SecuritiesCommittedToPurchasePeriod_lbl" xml:lang="en-US">Securities committed to purchase period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForLegalSettlements" xlink:label="us-gaap_PaymentsForLegalSettlements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForLegalSettlements" xlink:to="lab_PaymentsForLegalSettlements" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PaymentsForLegalSettlements" xml:lang="en-US">Payments for Legal Settlements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PaymentsForLegalSettlements" xml:lang="en-US">Legal settlements with clients related ARS</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueMeasurementWithUnobservableInputsReclassificationTransfersIntoLevelUnrealizedLoss" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReclassificationTransfersIntoLevelUnrealizedLoss" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueMeasurementWithUnobservableInputsReclassificationTransfersIntoLevelUnrealizedLoss" xlink:to="opy_FairValueMeasurementWithUnobservableInputsReclassificationTransfersIntoLevelUnrealizedLoss_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReclassificationTransfersIntoLevelUnrealizedLoss_lbl" xml:lang="en-US">Fair Value Measurement with Unobservable Inputs Reclassification Transfers into Level Unrealized Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReclassificationTransfersIntoLevelUnrealizedLoss_lbl" xml:lang="en-US">Valuation adjustment (unrealized loss) for ARS</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReclassificationTransfersIntoLevelUnrealizedLoss_lbl" xml:lang="en-US">Fair value measurement with unobservable inputs reclassification transfers into level unrealized loss.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueOfSecuritiesReverseRepurchaseAgreement" xlink:label="opy_FairValueOfSecuritiesReverseRepurchaseAgreement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueOfSecuritiesReverseRepurchaseAgreement" xlink:to="opy_FairValueOfSecuritiesReverseRepurchaseAgreement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueOfSecuritiesReverseRepurchaseAgreement_lbl" xml:lang="en-US">Fair Value of Securities Reverse Repurchase Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueOfSecuritiesReverseRepurchaseAgreement_lbl" xml:lang="en-US">Fair value of the reverse repurchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueOfSecuritiesReverseRepurchaseAgreement_lbl" xml:lang="en-US">Fair value of securities reverse repurchase agreement.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueOfSecuritiesRepurchaseAgreement" xlink:label="opy_FairValueOfSecuritiesRepurchaseAgreement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueOfSecuritiesRepurchaseAgreement" xlink:to="opy_FairValueOfSecuritiesRepurchaseAgreement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueOfSecuritiesRepurchaseAgreement_lbl" xml:lang="en-US">Fair Value of Securities Repurchase Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueOfSecuritiesRepurchaseAgreement_lbl" xml:lang="en-US">Fair value of the repurchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueOfSecuritiesRepurchaseAgreement_lbl" xml:lang="en-US">Fair value of securities repurchase agreement.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" xlink:to="lab_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" xml:lang="en-US">Cash Flow Hedge Gain (Loss) Reclassified to Interest Expense, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" xml:lang="en-US">Reclassified of other comprehensive income (loss) to other expenses</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument" xlink:label="opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument" xlink:to="opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_lbl" xml:lang="en-US">Maximum Settlement Period in Case of Delayed Delivery of Underlying Instrument</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_lbl" xml:lang="en-US">Maximum settlement period in case of delayed delivery of underlying instrument.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_lbl" xml:lang="en-US">Forward or delayed delivery of the underlying instrument with settlement</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_LoanPurchasedUnderCommitmentFromFederalHousingAdministration" xlink:label="opy_LoanPurchasedUnderCommitmentFromFederalHousingAdministration" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_LoanPurchasedUnderCommitmentFromFederalHousingAdministration" xlink:to="opy_LoanPurchasedUnderCommitmentFromFederalHousingAdministration_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_LoanPurchasedUnderCommitmentFromFederalHousingAdministration_lbl" xml:lang="en-US">Loan Purchased Under Commitment from Federal Housing Administration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_LoanPurchasedUnderCommitmentFromFederalHousingAdministration_lbl" xml:lang="en-US">OMHHF had a loan receivable balance (included in other assets)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_LoanPurchasedUnderCommitmentFromFederalHousingAdministration_lbl" xml:lang="en-US">Loan purchased under commitment from federal housing administration.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_UsTreasuryNotesOpenFutureContractsWrittenNumberOfContracts" xlink:label="opy_UsTreasuryNotesOpenFutureContractsWrittenNumberOfContracts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_UsTreasuryNotesOpenFutureContractsWrittenNumberOfContracts" xlink:to="opy_UsTreasuryNotesOpenFutureContractsWrittenNumberOfContracts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_UsTreasuryNotesOpenFutureContractsWrittenNumberOfContracts_lbl" xml:lang="en-US">Us Treasury Notes Open Future Contracts Written Number of Contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_UsTreasuryNotesOpenFutureContractsWrittenNumberOfContracts_lbl" xml:lang="en-US">Number of open short contract's</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_UsTreasuryNotesOpenFutureContractsWrittenNumberOfContracts_lbl" xml:lang="en-US">Us treasury notes open future contracts written number of contracts.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OpenFutureContractsWrittenExpiryPeriod" xlink:label="opy_OpenFutureContractsWrittenExpiryPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OpenFutureContractsWrittenExpiryPeriod" xlink:to="opy_OpenFutureContractsWrittenExpiryPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OpenFutureContractsWrittenExpiryPeriod_lbl" xml:lang="en-US">Open Future Contracts Written Expiry Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OpenFutureContractsWrittenExpiryPeriod_lbl" xml:lang="en-US">Open short contracts expiry period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OpenFutureContractsWrittenExpiryPeriod_lbl" xml:lang="en-US">Open future contracts written expiry period.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OpenFutureContractsWrittenNumberOfContracts" xlink:label="opy_OpenFutureContractsWrittenNumberOfContracts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OpenFutureContractsWrittenNumberOfContracts" xlink:to="opy_OpenFutureContractsWrittenNumberOfContracts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OpenFutureContractsWrittenNumberOfContracts_lbl" xml:lang="en-US">Open Future Contracts Written Number of Contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OpenFutureContractsWrittenNumberOfContracts_lbl" xml:lang="en-US">Open contracts for Federal Funds futures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OpenFutureContractsWrittenNumberOfContracts_lbl" xml:lang="en-US">Open future contracts written number of contracts.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FederalFundMember" xlink:label="opy_FederalFundMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FederalFundMember" xlink:to="opy_FederalFundMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FederalFundMember_lbl" xml:lang="en-US">Federal Fund [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FederalFundMember_lbl" xml:lang="en-US">Federal Fund [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FederalFundMember_lbl" xml:lang="en-US">Federal fund.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_BankCallLoan" xlink:label="opy_BankCallLoan" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_BankCallLoan" xlink:to="opy_BankCallLoan_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_BankCallLoan_lbl" xml:lang="en-US">Bank Call Loan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_BankCallLoan_lbl" xml:lang="en-US">Bank call loans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_BankCallLoan_lbl" xml:lang="en-US">Bank call loan.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesHeldAsCollateralAtFairValue" xlink:label="us-gaap_SecuritiesHeldAsCollateralAtFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesHeldAsCollateralAtFairValue" xlink:to="lab_SecuritiesHeldAsCollateralAtFairValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SecuritiesHeldAsCollateralAtFairValue" xml:lang="en-US">Securities Held as Collateral, at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SecuritiesHeldAsCollateralAtFairValue" xml:lang="en-US">Collateralized loans, collateralized by firm with market values</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_TypeOfCustomerAxis" xlink:label="opy_TypeOfCustomerAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_TypeOfCustomerAxis" xlink:to="opy_TypeOfCustomerAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_TypeOfCustomerAxis_lbl" xml:lang="en-US">Type of Customer [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_TypeOfCustomerAxis_lbl" xml:lang="en-US">Type of customer.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_TypeOfCustomerDomain" xlink:label="opy_TypeOfCustomerDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_TypeOfCustomerDomain" xlink:to="opy_TypeOfCustomerDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_TypeOfCustomerDomain_lbl" xml:lang="en-US">Type of Customer [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_TypeOfCustomerDomain_lbl" xml:lang="en-US">Type of customer.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xlink:label="us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xlink:to="lab_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xml:lang="en-US">Customer Securities for which Entity has Right to Sell or Repledge, Fair Value of Securities Sold or Repledged</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValueOfSecuritiesSoldOrRepledged" xml:lang="en-US">Customer securities under customer margin loans agreement available to be repledged</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_MarginDepositedWithOptionClearingCorporation" xlink:label="opy_MarginDepositedWithOptionClearingCorporation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_MarginDepositedWithOptionClearingCorporation" xlink:to="opy_MarginDepositedWithOptionClearingCorporation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_MarginDepositedWithOptionClearingCorporation_lbl" xml:lang="en-US">Margin Deposited with Option Clearing Corporation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_MarginDepositedWithOptionClearingCorporation_lbl" xml:lang="en-US">Customer securities deposited to secure obligations and margin requirements under option contracts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_MarginDepositedWithOptionClearingCorporation_lbl" xml:lang="en-US">Margin deposited with option clearing corporation.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_GrossBalanceOfReverseRepurchaseAgreement" xlink:label="opy_GrossBalanceOfReverseRepurchaseAgreement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_GrossBalanceOfReverseRepurchaseAgreement" xlink:to="opy_GrossBalanceOfReverseRepurchaseAgreement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_GrossBalanceOfReverseRepurchaseAgreement_lbl" xml:lang="en-US">Gross Balance of Reverse Repurchase Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_GrossBalanceOfReverseRepurchaseAgreement_lbl" xml:lang="en-US">Gross balances of reverse repurchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_GrossBalanceOfReverseRepurchaseAgreement_lbl" xml:lang="en-US">Gross balance of reverse repurchase agreement.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_GrossBalanceOfRepurchaseAgreement" xlink:label="opy_GrossBalanceOfRepurchaseAgreement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_GrossBalanceOfRepurchaseAgreement" xlink:to="opy_GrossBalanceOfRepurchaseAgreement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_GrossBalanceOfRepurchaseAgreement_lbl" xml:lang="en-US">Gross Balance of Repurchase Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_GrossBalanceOfRepurchaseAgreement_lbl" xml:lang="en-US">Gross balances of repurchase agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_GrossBalanceOfRepurchaseAgreement_lbl" xml:lang="en-US">Gross balance of repurchase agreement.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ReverseRepurchaseAgreementMember" xlink:label="opy_ReverseRepurchaseAgreementMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ReverseRepurchaseAgreementMember" xlink:to="opy_ReverseRepurchaseAgreementMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ReverseRepurchaseAgreementMember_lbl" xml:lang="en-US">Reverse Repurchase Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ReverseRepurchaseAgreementMember_lbl" xml:lang="en-US">Reverse Repurchase Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ReverseRepurchaseAgreementMember_lbl" xml:lang="en-US">Reverse repurchase agreement.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_PledgedSecuritiesOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterpartyCarryingValue" xlink:label="opy_PledgedSecuritiesOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterpartyCarryingValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_PledgedSecuritiesOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterpartyCarryingValue" xlink:to="opy_PledgedSecuritiesOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_PledgedSecuritiesOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" xml:lang="en-US">Pledged Securities Owned and Pledged as Collateral Amount Eligible to be Repledged by Counterparty Carrying Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_PledgedSecuritiesOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" xml:lang="en-US">Carrying value of pledged securities owned that can be sold or repledged by the counterparty</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_PledgedSecuritiesOwnedAndPledgedAsCollateralAmountEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" xml:lang="en-US">Pledged securities owned and pledged as collateral amount eligible to be repledged by counterparty carrying value.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotEligibleToBeRepledgedByCounterpartyCarryingValue" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotEligibleToBeRepledgedByCounterpartyCarryingValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotEligibleToBeRepledgedByCounterpartyCarryingValue" xlink:to="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" xml:lang="en-US">Securities Owned and Pledged as Collateral Amount not Eligible to be Repledged by Counterparty Carrying Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" xml:lang="en-US">Carrying value of securities owned by the Company loaned or pledged</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotEligibleToBeRepledgedByCounterpartyCarryingValue_lbl" xml:lang="en-US">Securities owned and pledged as collateral amount not eligible to be repledged by counterparty carrying value.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotBeRepledgedByCounterpartyFairValueValue" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotBeRepledgedByCounterpartyFairValueValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotBeRepledgedByCounterpartyFairValueValue" xlink:to="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotBeRepledgedByCounterpartyFairValueValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotBeRepledgedByCounterpartyFairValueValue_lbl" xml:lang="en-US">Securities Owned and Pledged as Collateral Amount not be Repledged by Counterparty Fair Value Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotBeRepledgedByCounterpartyFairValueValue_lbl" xml:lang="en-US">Lehman Brothers International (Europe) held securities with a fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SecuritiesOwnedAndPledgedAsCollateralAmountNotBeRepledgedByCounterpartyFairValueValue_lbl" xml:lang="en-US">Securities owned and pledged as collateral amount not be repledged by counterparty fair value value.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_BrokerDealersAndUnderwritersDomain" xlink:label="opy_BrokerDealersAndUnderwritersDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_BrokerDealersAndUnderwritersDomain" xlink:to="opy_BrokerDealersAndUnderwritersDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_BrokerDealersAndUnderwritersDomain_lbl" xml:lang="en-US">Broker Dealers and Underwriters [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_BrokerDealersAndUnderwritersDomain_lbl" xml:lang="en-US">Broker dealers and underwriters.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FinancialInstrumentAtFairValueTable" xlink:label="opy_FinancialInstrumentAtFairValueTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FinancialInstrumentAtFairValueTable" xlink:to="opy_FinancialInstrumentAtFairValueTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FinancialInstrumentAtFairValueTable_lbl" xml:lang="en-US">Financial Instrument at Fair Value [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FinancialInstrumentAtFairValueTable_lbl" xml:lang="en-US">Financial instrument at fair value.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CorporateMember" xlink:label="us-gaap_CorporateMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CorporateMember" xlink:to="lab_CorporateMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CorporateMember" xml:lang="en-US">Corporate [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CorporateMember" xml:lang="en-US">Corporate [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis" xlink:label="us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis" xlink:to="lab_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis" xml:lang="en-US">Deferred Compensation Arrangement With Individual Share Based Payments By Type Of Deferred Compensation [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TypeOfDeferredCompensationDomain" xlink:label="us-gaap_TypeOfDeferredCompensationDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfDeferredCompensationDomain" xlink:to="lab_TypeOfDeferredCompensationDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TypeOfDeferredCompensationDomain" xml:lang="en-US">Type Of Deferred Compensation [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredCompensationShareBasedPaymentsMember" xlink:label="us-gaap_DeferredCompensationShareBasedPaymentsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCompensationShareBasedPaymentsMember" xlink:to="lab_DeferredCompensationShareBasedPaymentsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredCompensationShareBasedPaymentsMember" xml:lang="en-US">Deferred Compensation Share Based Payments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DeferredCompensationShareBasedPaymentsMember" xml:lang="en-US">Deferred Compensation Share Based Payments [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeAxis" xlink:to="lab_RangeAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RangeAxis" xml:lang="en-US">Range [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="lab_RangeMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RangeMember" xml:lang="en-US">Range [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="lab_MaximumMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MaximumMember" xml:lang="en-US">Maximum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_MaximumMember" xml:lang="en-US">Maximum [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InstrumentAxis" xlink:label="us-gaap_InstrumentAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InstrumentAxis" xlink:to="lab_InstrumentAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InstrumentAxis" xml:lang="en-US">Instrument [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InstrumentTypeMember" xlink:label="us-gaap_InstrumentTypeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InstrumentTypeMember" xlink:to="lab_InstrumentTypeMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InstrumentTypeMember" xml:lang="en-US">Instrument Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_USTreasuryNotesSecuritiesMember" xlink:label="us-gaap_USTreasuryNotesSecuritiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_USTreasuryNotesSecuritiesMember" xlink:to="lab_USTreasuryNotesSecuritiesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_USTreasuryNotesSecuritiesMember" xml:lang="en-US">U S Treasury Notes Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_USTreasuryNotesSecuritiesMember" xml:lang="en-US">U S Treasury Notes Securities [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesFinancingTransactionAxis" xlink:label="us-gaap_SecuritiesFinancingTransactionAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesFinancingTransactionAxis" xlink:to="lab_SecuritiesFinancingTransactionAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SecuritiesFinancingTransactionAxis" xml:lang="en-US">Securities Financing Transaction [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesFinancingTransactionTypeDomain" xlink:label="us-gaap_SecuritiesFinancingTransactionTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesFinancingTransactionTypeDomain" xlink:to="lab_SecuritiesFinancingTransactionTypeDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SecuritiesFinancingTransactionTypeDomain" xml:lang="en-US">Securities Financing Transaction Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="us-gaap_ConcentrationRiskByTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByTypeAxis" xlink:to="lab_ConcentrationRiskByTypeAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConcentrationRiskByTypeAxis" xml:lang="en-US">Concentration Risk By Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="us-gaap_ConcentrationRiskTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskTypeDomain" xlink:to="lab_ConcentrationRiskTypeDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConcentrationRiskTypeDomain" xml:lang="en-US">Concentration Risk Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xlink:label="us-gaap_MortgageLoansOnRealEstateCarryingAmountOfMortgages" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xlink:to="lab_MortgageLoansOnRealEstateCarryingAmountOfMortgages" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xml:lang="en-US">Mortgage Loans On Real Estate Carrying Amount Of Mortgages</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_MortgageLoansOnRealEstateCarryingAmountOfMortgages" xml:lang="en-US">Outstanding under the warehouse facility line</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityMaximum" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityMaximum" xlink:to="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityMaximum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityMaximum_lbl" xml:lang="en-US">Aggregate Principal Loan Underwritten Against Warehouse Facility Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityMaximum_lbl" xml:lang="en-US">Maximum aggregate principal amount of the warehouse facility</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityMaximum_lbl" xml:lang="en-US">Aggregate principal loan underwritten against warehouse facility maximum.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityUtilized" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityUtilized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityUtilized" xlink:to="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" xml:lang="en-US">Aggregate Principal Loan Underwritten Against Warehouse Facility Utilized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" xml:lang="en-US">Utilization of warehouse facility</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_AggregatePrincipalLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" xml:lang="en-US">Aggregate principal loan underwritten against warehouse facility utilized.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ExcessRetentionLoanUnderwrittenAgainstWarehouseFacilityUtilized" xlink:label="opy_ExcessRetentionLoanUnderwrittenAgainstWarehouseFacilityUtilized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ExcessRetentionLoanUnderwrittenAgainstWarehouseFacilityUtilized" xlink:to="opy_ExcessRetentionLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ExcessRetentionLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" xml:lang="en-US">Excess Retention Loan Underwritten Against Warehouse Facility Utilized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ExcessRetentionLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" xml:lang="en-US">Warehouse facility excess retention</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ExcessRetentionLoanUnderwrittenAgainstWarehouseFacilityUtilized_lbl" xml:lang="en-US">Excess retention loan underwritten against warehouse facility utilized.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_MortgageLoanGuaranteePeriodDays" xlink:label="opy_MortgageLoanGuaranteePeriodDays" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_MortgageLoanGuaranteePeriodDays" xlink:to="opy_MortgageLoanGuaranteePeriodDays_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_MortgageLoanGuaranteePeriodDays_lbl" xml:lang="en-US">Mortgage Loan Guarantee Period Days</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_MortgageLoanGuaranteePeriodDays_lbl" xml:lang="en-US">Mortgage loan guarantee period days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_MortgageLoanGuaranteePeriodDays_lbl" xml:lang="en-US">Guaranteed mortgages for a period</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_MortgageLoansOnRealEstateInterestRateDescription" xlink:label="opy_MortgageLoansOnRealEstateInterestRateDescription" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_MortgageLoansOnRealEstateInterestRateDescription" xlink:to="opy_MortgageLoansOnRealEstateInterestRateDescription_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_MortgageLoansOnRealEstateInterestRateDescription_lbl" xml:lang="en-US">Mortgage Loans on Real Estate Interest Rate Description</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_MortgageLoansOnRealEstateInterestRateDescription_lbl" xml:lang="en-US">Variable interest rate under warehouse facility</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_MortgageLoansOnRealEstateInterestRateDescription_lbl" xml:lang="en-US">Mortgage loans on real estate interest rate description.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_MortgageLoanOnRealEstateInterestBasisMarginRate" xlink:label="opy_MortgageLoanOnRealEstateInterestBasisMarginRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_MortgageLoanOnRealEstateInterestBasisMarginRate" xlink:to="opy_MortgageLoanOnRealEstateInterestBasisMarginRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_MortgageLoanOnRealEstateInterestBasisMarginRate_lbl" xml:lang="en-US">Mortgage Loan on Real Estate Interest Basis Margin Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_MortgageLoanOnRealEstateInterestBasisMarginRate_lbl" xml:lang="en-US">Variable interest rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_MortgageLoanOnRealEstateInterestBasisMarginRate_lbl" xml:lang="en-US">Mortgage loan on real estate interest basis margin rate.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_MortgageLoanOnRealEstateInterestAmount" xlink:label="opy_MortgageLoanOnRealEstateInterestAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_MortgageLoanOnRealEstateInterestAmount" xlink:to="opy_MortgageLoanOnRealEstateInterestAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_MortgageLoanOnRealEstateInterestAmount_lbl" xml:lang="en-US">Mortgage Loan on Real Estate Interest Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_MortgageLoanOnRealEstateInterestAmount_lbl" xml:lang="en-US">Interest expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_MortgageLoanOnRealEstateInterestAmount_lbl" xml:lang="en-US">Mortgage loan on real estate interest amount.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FederalFundsPurchasedAndSecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:label="us-gaap_FederalFundsPurchasedAndSecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FederalFundsPurchasedAndSecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xlink:to="lab_FederalFundsPurchasedAndSecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FederalFundsPurchasedAndSecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xml:lang="en-US">Federal Funds Purchased and Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FederalFundsPurchasedAndSecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure" xml:lang="en-US">FHA loan commitments balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CreditConcentrationRiskMember" xlink:label="us-gaap_CreditConcentrationRiskMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditConcentrationRiskMember" xlink:to="lab_CreditConcentrationRiskMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CreditConcentrationRiskMember" xml:lang="en-US">Credit Concentration Risk [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CreditConcentrationRiskMember" xml:lang="en-US">Credit Concentration Risk [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapital" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapital" xlink:to="lab_IncreaseDecreaseInOperatingCapital" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncreaseDecreaseInOperatingCapital" xml:lang="en-US">Increase (Decrease) in Operating Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_IncreaseDecreaseInOperatingCapital" xml:lang="en-US">Changes in operating assets and liabilities</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ScheduleOfRevenueFromExternalCustomerBySegmentTableTextBlock" xlink:label="opy_ScheduleOfRevenueFromExternalCustomerBySegmentTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ScheduleOfRevenueFromExternalCustomerBySegmentTableTextBlock" xlink:to="opy_ScheduleOfRevenueFromExternalCustomerBySegmentTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ScheduleOfRevenueFromExternalCustomerBySegmentTableTextBlock_lbl" xml:lang="en-US">Schedule of Revenue from External Customer by Segment [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ScheduleOfRevenueFromExternalCustomerBySegmentTableTextBlock_lbl" xml:lang="en-US">Revenues, classified by the major geographic areas</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ScheduleOfRevenueFromExternalCustomerBySegmentTableTextBlock_lbl" xml:lang="en-US">Revenues, classified by major geographic areas.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StockCompensationPlanMember" xml:lang="en-US">Stock Compensation Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_StockCompensationPlanMember" xml:lang="en-US">Stock Compensation Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WarrantMember" xml:lang="en-US">Warrant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WarrantMember" xml:lang="en-US">Warrant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PayablesToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US">Payables to Broker-Dealers and Clearing Organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PayablesToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US">Payable to brokers and clearing organizations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PayablesToBrokerDealersAndClearingOrganizations_lbl" xml:lang="en-US">Payable to brokers and clearing organizations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="lab_DeferredTaxAssetsLiabilitiesNet" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredTaxAssetsLiabilitiesNet" xml:lang="en-US">Deferred Tax Assets, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DeferredTaxAssetsLiabilitiesNet" xml:lang="en-US">Deferred tax asset</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_NetCapitalRequirementsTextualAbstract" xlink:label="opy_NetCapitalRequirementsTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_NetCapitalRequirementsTextualAbstract" xlink:to="opy_NetCapitalRequirementsTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_NetCapitalRequirementsTextualAbstract_lbl" xml:lang="en-US">Net Capital Requirements (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_NetCapitalRequirementsTextualAbstract_lbl" xml:lang="en-US">Net Capital Requirements (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_NetCapitalRequirementsTextualAbstract_lbl" xml:lang="en-US">Net capital requirements.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CashDividendMember" xlink:label="opy_CashDividendMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CashDividendMember" xlink:to="opy_CashDividendMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CashDividendMember_lbl" xml:lang="en-US">Cash Dividend [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CashDividendMember_lbl" xml:lang="en-US">Cash Dividend [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CashDividendMember_lbl" xml:lang="en-US">Cash dividend.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_RevisionToFinancialStatementsTextBlock" xlink:label="opy_RevisionToFinancialStatementsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_RevisionToFinancialStatementsTextBlock" xlink:to="opy_RevisionToFinancialStatementsTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_RevisionToFinancialStatementsTextBlock_lbl" xml:lang="en-US">Revision to Financial Statements [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_RevisionToFinancialStatementsTextBlock_lbl" xml:lang="en-US">Revision to financial statements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_RevisionToFinancialStatementsTextBlock_lbl" xml:lang="en-US">Revision to financial statements.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted" xlink:label="us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted" xlink:to="lab_DescriptionOfNewAccountingPronouncementsNotYetAdopted" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DescriptionOfNewAccountingPronouncementsNotYetAdopted" xml:lang="en-US">Description of New Accounting Pronouncements Not yet Adopted [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DescriptionOfNewAccountingPronouncementsNotYetAdopted" xml:lang="en-US">New accounting pronouncements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="lab_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xml:lang="en-US">Financial instruments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:to="lab_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xml:lang="en-US">Condensed Financial Information of Parent Company Only Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xml:lang="en-US">Supplemental Guarantor Condensed Consolidated Financial Statements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsAxis" xlink:label="us-gaap_DividendsAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsAxis" xlink:to="lab_DividendsAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DividendsAxis" xml:lang="en-US">Dividends [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DividendsDomain" xlink:label="us-gaap_DividendsDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsDomain" xlink:to="lab_DividendsDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DividendsDomain" xml:lang="en-US">Dividends [Domain]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OccupancyAndEquipmentCosts" xlink:label="opy_OccupancyAndEquipmentCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OccupancyAndEquipmentCosts" xlink:to="opy_OccupancyAndEquipmentCosts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OccupancyAndEquipmentCosts_lbl" xml:lang="en-US">Occupancy and Equipment Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OccupancyAndEquipmentCosts_lbl" xml:lang="en-US">Occupancy and equipment costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OccupancyAndEquipmentCosts_lbl" xml:lang="en-US">Occupancy and equipment costs.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotesIssued1" xlink:label="us-gaap_NotesIssued1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesIssued1" xlink:to="lab_NotesIssued1" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_NotesIssued1" xml:lang="en-US">Notes Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_NotesIssued1" xml:lang="en-US">Issued a note</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowHedgeLossReclassifiedToOtherIncome" xlink:label="us-gaap_CashFlowHedgeLossReclassifiedToOtherIncome" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeLossReclassifiedToOtherIncome" xlink:to="lab_CashFlowHedgeLossReclassifiedToOtherIncome" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CashFlowHedgeLossReclassifiedToOtherIncome" xml:lang="en-US">Cash Flow Hedge Loss Reclassified to Other Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CashFlowHedgeLossReclassifiedToOtherIncome" xml:lang="en-US">Effective portion of the net loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:to="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_lbl" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_lbl" xml:lang="en-US">Realized Gains (Losses)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" xlink:label="us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" xlink:to="lab_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" xml:lang="en-US">Customer Securities for which Entity has Right to Sell or Repledge, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CustomerSecuritiesForWhichEntityHasRightToSellOrRepledgeFairValue" xml:lang="en-US">Customer securities under customer margin loans available to be pledged</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_DerivativesForTradingAndInvestmentMember" xlink:label="opy_DerivativesForTradingAndInvestmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_DerivativesForTradingAndInvestmentMember" xlink:to="opy_DerivativesForTradingAndInvestmentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_DerivativesForTradingAndInvestmentMember_lbl" xml:lang="en-US">Derivatives for Trading and Investment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_DerivativesForTradingAndInvestmentMember_lbl" xml:lang="en-US">Derivatives used for trading and investment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_DerivativesForTradingAndInvestmentMember_lbl" xml:lang="en-US">Derivatives for trading and investment member.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowHedgingMember" xlink:label="us-gaap_CashFlowHedgingMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgingMember" xlink:to="lab_CashFlowHedgingMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CashFlowHedgingMember" xml:lang="en-US">Cash Flow Hedging [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CashFlowHedgingMember" xml:lang="en-US">Cash Flow Hedges [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:label="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:to="lab_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xml:lang="en-US">Hedging Relationship [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HedgingRelationshipDomain" xlink:label="us-gaap_HedgingRelationshipDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingRelationshipDomain" xlink:to="lab_HedgingRelationshipDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HedgingRelationshipDomain" xml:lang="en-US">Hedging Relationship [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeByNatureAxis" xlink:label="us-gaap_DerivativeByNatureAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeByNatureAxis" xlink:to="lab_DerivativeByNatureAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeByNatureAxis" xml:lang="en-US">Derivative, by Nature [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeNameDomain" xlink:label="us-gaap_DerivativeNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeNameDomain" xlink:to="lab_DerivativeNameDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeNameDomain" xml:lang="en-US">Derivative, Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_BrokersAndDealersProprietaryTradingAccount" xlink:label="opy_BrokersAndDealersProprietaryTradingAccount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_BrokersAndDealersProprietaryTradingAccount" xlink:to="opy_BrokersAndDealersProprietaryTradingAccount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_BrokersAndDealersProprietaryTradingAccount_lbl" xml:lang="en-US">Brokers and Dealers Proprietary Trading Account</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_BrokersAndDealersProprietaryTradingAccount_lbl" xml:lang="en-US">ARS held in proprietary trading account result of the failed auctions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_BrokersAndDealersProprietaryTradingAccount_lbl" xml:lang="en-US">Brokers and dealers proprietary trading account.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OtherThanCorporateCustomerMember" xlink:label="opy_OtherThanCorporateCustomerMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OtherThanCorporateCustomerMember" xlink:to="opy_OtherThanCorporateCustomerMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OtherThanCorporateCustomerMember_lbl" xml:lang="en-US">Other Than Corporate Customer [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OtherThanCorporateCustomerMember_lbl" xml:lang="en-US">Other than corporate customer.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OtherThanCorporateCustomerMember_lbl" xml:lang="en-US">Other than corporate customer [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SecuritiesBorrowedTransactionsMember" xlink:label="opy_SecuritiesBorrowedTransactionsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SecuritiesBorrowedTransactionsMember" xlink:to="opy_SecuritiesBorrowedTransactionsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SecuritiesBorrowedTransactionsMember_lbl" xml:lang="en-US">Securities Borrowed Transactions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SecuritiesBorrowedTransactionsMember_lbl" xml:lang="en-US">Securities borrowed transactions.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SecuritiesBorrowedTransactionsMember_lbl" xml:lang="en-US">Securities Borrowed Transactions [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_BrokerDealersAndUnderwritersAxis" xlink:label="opy_BrokerDealersAndUnderwritersAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_BrokerDealersAndUnderwritersAxis" xlink:to="opy_BrokerDealersAndUnderwritersAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_BrokerDealersAndUnderwritersAxis_lbl" xml:lang="en-US">Broker Dealers and Underwriters [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_BrokerDealersAndUnderwritersAxis_lbl" xml:lang="en-US">Broker dealers and underwriters.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_LehmanBrothersInternationalEuropeMember" xlink:label="opy_LehmanBrothersInternationalEuropeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_LehmanBrothersInternationalEuropeMember" xlink:to="opy_LehmanBrothersInternationalEuropeMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_LehmanBrothersInternationalEuropeMember_lbl" xml:lang="en-US">Lehman Brothers International Europe [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_LehmanBrothersInternationalEuropeMember_lbl" xml:lang="en-US">Lehman brothers international Europe [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_LehmanBrothersInternationalEuropeMember_lbl" xml:lang="en-US">Lehman brothers international Europe</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FinancingCommitmentUnderRevolvingCreditLeveragedTransactions" xlink:label="opy_FinancingCommitmentUnderRevolvingCreditLeveragedTransactions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FinancingCommitmentUnderRevolvingCreditLeveragedTransactions" xlink:to="opy_FinancingCommitmentUnderRevolvingCreditLeveragedTransactions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FinancingCommitmentUnderRevolvingCreditLeveragedTransactions_lbl" xml:lang="en-US">Financing Commitment Under Revolving Credit Leveraged Transactions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FinancingCommitmentUnderRevolvingCreditLeveragedTransactions_lbl" xml:lang="en-US">Revolving credit facilities in leveraged financing transactions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FinancingCommitmentUnderRevolvingCreditLeveragedTransactions_lbl" xml:lang="en-US">Financing commitment under revolving credit leveraged transactions.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FinancialInstrumentAtFairValueLineItems" xlink:label="opy_FinancialInstrumentAtFairValueLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FinancialInstrumentAtFairValueLineItems" xlink:to="opy_FinancialInstrumentAtFairValueLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FinancialInstrumentAtFairValueLineItems_lbl" xml:lang="en-US">Financial Instrument at Fair Value [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FinancialInstrumentAtFairValueLineItems_lbl" xml:lang="en-US">Financial instrument at fair value.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AssetManagementMember" xlink:label="us-gaap_AssetManagementMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetManagementMember" xlink:to="us-gaap_AssetManagementMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetManagementMember_lbl" xml:lang="en-US">Asset Management [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AssetManagementMember_lbl" xml:lang="en-US">Asset Management [Member]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CommonStockClassOneAndTwoMember" xlink:label="opy_CommonStockClassOneAndTwoMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CommonStockClassOneAndTwoMember" xlink:to="opy_CommonStockClassOneAndTwoMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CommonStockClassOneAndTwoMember_lbl" xml:lang="en-US">Common Stock Class One and Two [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CommonStockClassOneAndTwoMember_lbl" xml:lang="en-US">Common stock class one and two.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CommonStockClassOneAndTwoMember_lbl" xml:lang="en-US">Common Stock class one and two [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LossContingencySettlementAgreementDate" xlink:label="us-gaap_LossContingencySettlementAgreementDate" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LossContingencySettlementAgreementCounterpartysName" xlink:label="us-gaap_LossContingencySettlementAgreementCounterpartysName" />
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:label="us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:to="lab_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xml:lang="en-US">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xlink:to="lab_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesSalesSettlements" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesSalesSettlements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesSalesSettlements" xlink:to="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesSalesSettlements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesSalesSettlements_lbl" xml:lang="en-US">Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liabilities Sales Settlements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesSalesSettlements_lbl" xml:lang="en-US">Fair value measurement with unobservable inputs reconciliation recurring basis liabilities sales settlements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitiesSalesSettlements_lbl" xml:lang="en-US">Sales, Settlements</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_NotionalAndFairValueOfToBeAnnouncedSecuritiesAbstract" xlink:label="opy_NotionalAndFairValueOfToBeAnnouncedSecuritiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_NotionalAndFairValueOfToBeAnnouncedSecuritiesAbstract" xlink:to="opy_NotionalAndFairValueOfToBeAnnouncedSecuritiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_NotionalAndFairValueOfToBeAnnouncedSecuritiesAbstract_lbl" xml:lang="en-US">Notional and Fair Value of to be Announced Securities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_NotionalAndFairValueOfToBeAnnouncedSecuritiesAbstract_lbl" xml:lang="en-US">Notional and fair values of the TBAs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_NotionalAndFairValueOfToBeAnnouncedSecuritiesAbstract_lbl" xml:lang="en-US">Notional and fair value of to be announced securities.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_NotionalAmountSaleOfToBeAnnouncedSecurities" xlink:label="opy_NotionalAmountSaleOfToBeAnnouncedSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_NotionalAmountSaleOfToBeAnnouncedSecurities" xlink:to="opy_NotionalAmountSaleOfToBeAnnouncedSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_NotionalAmountSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional Amount Sale of to be Announced Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_NotionalAmountSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional, Sale of TBAs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_NotionalAmountSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional amount sale of to be announced securities.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueSaleOfToBeAnnouncedSecurities" xlink:label="opy_FairValueSaleOfToBeAnnouncedSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueSaleOfToBeAnnouncedSecurities" xlink:to="opy_FairValueSaleOfToBeAnnouncedSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Fair Value Sale of to be Announced Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="opy_FairValueSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">TBAs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Fair Value, Sale of TBAs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Fair value sale of to be announced securities.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_NotionalAmountPurchaseOfToBeAnnouncedSecurities" xlink:label="opy_NotionalAmountPurchaseOfToBeAnnouncedSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_NotionalAmountPurchaseOfToBeAnnouncedSecurities" xlink:to="opy_NotionalAmountPurchaseOfToBeAnnouncedSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_NotionalAmountPurchaseOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional Amount Purchase of to be Announced Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_NotionalAmountPurchaseOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional, Purchase of TBAs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_NotionalAmountPurchaseOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional amount purchase of to be announced securities.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValuePurchasesOfToBeAnnouncedSecurities" xlink:label="opy_FairValuePurchasesOfToBeAnnouncedSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValuePurchasesOfToBeAnnouncedSecurities" xlink:to="opy_FairValuePurchasesOfToBeAnnouncedSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValuePurchasesOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Fair Value Purchases of to be Announced Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="opy_FairValuePurchasesOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">To-be-announced securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValuePurchasesOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Fair Value, Purchase of TBAs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValuePurchasesOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Fair value purchases of to be announced securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_VariableInterestEntityNonconsolidatedCarryingAmountAssets" xml:lang="en-US">Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_VariableInterestEntityNonconsolidatedCarryingAmountAssets" xml:lang="en-US">Carrying Value of the Variable Interest Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" xml:lang="en-US">Variable Interest Entity, Nonconsolidated, Carrying Amount, Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" xml:lang="en-US">Carrying Value of the Variable Interest Liabilities</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_DerivativeInstrumentEffectOnStatementOfOperationAbstract" xlink:label="opy_DerivativeInstrumentEffectOnStatementOfOperationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_DerivativeInstrumentEffectOnStatementOfOperationAbstract" xlink:to="opy_DerivativeInstrumentEffectOnStatementOfOperationAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_DerivativeInstrumentEffectOnStatementOfOperationAbstract_lbl" xml:lang="en-US">Derivative Instrument Effect on Statement of Operation [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_DerivativeInstrumentEffectOnStatementOfOperationAbstract_lbl" xml:lang="en-US">Fair value amounts of derivative instruments and their effect on the statement of operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_DerivativeInstrumentEffectOnStatementOfOperationAbstract_lbl" xml:lang="en-US">Derivative instrument effect on statement of operation.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesAbstract" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesAbstract" xlink:to="lab_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesAbstract" xml:lang="en-US">Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_VariableInterestEntityNonconsolidatedCarryingAmountAssetsAndLiabilitiesAbstract" xml:lang="en-US">Variable Interest Entities</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SecuritiesOwnedAndSecuritiesSoldButNotYetPurchasedAtFairValueAbstract" xlink:label="opy_SecuritiesOwnedAndSecuritiesSoldButNotYetPurchasedAtFairValueAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SecuritiesOwnedAndSecuritiesSoldButNotYetPurchasedAtFairValueAbstract" xlink:to="opy_SecuritiesOwnedAndSecuritiesSoldButNotYetPurchasedAtFairValueAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SecuritiesOwnedAndSecuritiesSoldButNotYetPurchasedAtFairValueAbstract_lbl" xml:lang="en-US">Securities Owned and Securities Sold but not yet Purchased at Fair Value [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SecuritiesOwnedAndSecuritiesSoldButNotYetPurchasedAtFairValueAbstract_lbl" xml:lang="en-US">Securities Owned and Securities Sold, But Not Yet Purchased at Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SecuritiesOwnedAndSecuritiesSoldButNotYetPurchasedAtFairValueAbstract_lbl" xml:lang="en-US">Securities owned and securities sold, but not yet purchased at fair value.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_HedgeDesignationsUsedForInterestRateDerivative" xlink:label="opy_HedgeDesignationsUsedForInterestRateDerivative" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_HedgeDesignationsUsedForInterestRateDerivative" xlink:to="opy_HedgeDesignationsUsedForInterestRateDerivative_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_HedgeDesignationsUsedForInterestRateDerivative_lbl" xml:lang="en-US">Hedge Designations Used for Interest Rate Derivative</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_HedgeDesignationsUsedForInterestRateDerivative_lbl" xml:lang="en-US">Open contracts for Federal Funds futures with a fair value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_HedgeDesignationsUsedForInterestRateDerivative_lbl" xml:lang="en-US">Hedge designations used for interest rate derivatives.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_BalanceSheetsAbstract" xlink:label="opy_BalanceSheetsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_BalanceSheetsAbstract" xlink:to="opy_BalanceSheetsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_BalanceSheetsAbstract_lbl" xml:lang="en-US">Balance Sheets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_BalanceSheetsAbstract_lbl" xml:lang="en-US">Condensed Consolidated Balance Sheets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_BalanceSheetsAbstract_lbl" xml:lang="en-US">Balance sheets.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SupplementalGuarantorFinancialStatementsTextualAbstract" xlink:label="opy_SupplementalGuarantorFinancialStatementsTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SupplementalGuarantorFinancialStatementsTextualAbstract" xlink:to="opy_SupplementalGuarantorFinancialStatementsTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SupplementalGuarantorFinancialStatementsTextualAbstract_lbl" xml:lang="en-US">Supplemental Guarantor Financial Statements (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SupplementalGuarantorFinancialStatementsTextualAbstract_lbl" xml:lang="en-US">Supplemental Guarantor Condensed Consolidated Financial Statements (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SupplementalGuarantorFinancialStatementsTextualAbstract_lbl" xml:lang="en-US">Supplemental guarantor condensed consolidated financial statements.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_NotionalAndFairValueOfTbaSecuritiesTableTextBlock" xlink:label="opy_NotionalAndFairValueOfTbaSecuritiesTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_NotionalAndFairValueOfTbaSecuritiesTableTextBlock" xlink:to="opy_NotionalAndFairValueOfTbaSecuritiesTableTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_NotionalAndFairValueOfTbaSecuritiesTableTextBlock_lbl" xml:lang="en-US">Notional and Fair Value of TBA securities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_NotionalAndFairValueOfTbaSecuritiesTableTextBlock_lbl" xml:lang="en-US">Notional and fair values of the TBA's</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_NotionalAndFairValueOfTbaSecuritiesTableTextBlock_lbl" xml:lang="en-US">Notional and fair value of TBA securities.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:to="lab_BusinessAcquisitionEffectiveDateOfAcquisition1" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_BusinessAcquisitionEffectiveDateOfAcquisition1" xml:lang="en-US">Acquisition date of CIBC Worlds Market Corp</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_BusinessAcquisitionEffectiveDateOfAcquisition1" xml:lang="en-US">Business Acquisition, Effective Date of Acquisition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" xlink:label="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFrequencyOfPeriodicPayment" xlink:to="lab_DebtInstrumentFrequencyOfPeriodicPayment" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentFrequencyOfPeriodicPayment" xml:lang="en-US">Debt Instrument, Frequency of Periodic Payment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DebtInstrumentFrequencyOfPeriodicPayment" xml:lang="en-US">Term of payments of interest on notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_EquityMethodInvestmentOwnershipPercentage" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EquityMethodInvestmentOwnershipPercentage" xml:lang="en-US">Equity Method Investment, Ownership Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EquityMethodInvestmentOwnershipPercentage" xml:lang="en-US">Interest rate owned by guarantors</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_InvestmentRedemptionFrequency" xlink:label="opy_InvestmentRedemptionFrequency" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_InvestmentRedemptionFrequency" xlink:to="opy_InvestmentRedemptionFrequency_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_InvestmentRedemptionFrequency_lbl" xml:lang="en-US">Investment Redemption Frequency</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_InvestmentRedemptionFrequency_lbl" xml:lang="en-US">Redemption Frequency</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_InvestmentRedemptionFrequency_lbl" xml:lang="en-US">Investment redemption frequency.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_InvestmentRedemptionNoticePeriodMinimum" xlink:label="opy_InvestmentRedemptionNoticePeriodMinimum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_InvestmentRedemptionNoticePeriodMinimum" xlink:to="opy_InvestmentRedemptionNoticePeriodMinimum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_InvestmentRedemptionNoticePeriodMinimum_lbl" xml:lang="en-US">Redemption Notice Period, Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_InvestmentRedemptionNoticePeriodMinimum_lbl" xml:lang="en-US">Investment Redemption Notice Period Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_InvestmentRedemptionNoticePeriodMinimum_lbl" xml:lang="en-US">Investment redemption notice period minimum.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_InvestmentRedemptionNoticePeriodMaximum" xlink:label="opy_InvestmentRedemptionNoticePeriodMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_InvestmentRedemptionNoticePeriodMaximum" xlink:to="opy_InvestmentRedemptionNoticePeriodMaximum_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_InvestmentRedemptionNoticePeriodMaximum_lbl" xml:lang="en-US">Redemption Notice Period, Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_InvestmentRedemptionNoticePeriodMaximum_lbl" xml:lang="en-US">Investment Redemption Notice Period Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_InvestmentRedemptionNoticePeriodMaximum_lbl" xml:lang="en-US">Investment redemption notice period maximum.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_LoanPositionHeldInSecondaryLoanTradingPortfolioFairValue" xlink:label="opy_LoanPositionHeldInSecondaryLoanTradingPortfolioFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_LoanPositionHeldInSecondaryLoanTradingPortfolioFairValue" xlink:to="opy_LoanPositionHeldInSecondaryLoanTradingPortfolioFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_LoanPositionHeldInSecondaryLoanTradingPortfolioFairValue_lbl" xml:lang="en-US">Loan position held in secondary loan trading portfolio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_LoanPositionHeldInSecondaryLoanTradingPortfolioFairValue_lbl" xml:lang="en-US">Loan Position Held In Secondary Loan Trading Portfolio Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_LoanPositionHeldInSecondaryLoanTradingPortfolioFairValue_lbl" xml:lang="en-US">Loan position held in secondary loan trading portfolio fair value.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:to="lab_DebtInstrumentDescriptionOfVariableRateBasis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US">Senior secured credit note reference rate description</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US">Debt Instrument, Description of Variable Rate Basis</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_AssetsAndLiabilitiesTransferredFromLevelOneToLevelTwo" xlink:label="opy_AssetsAndLiabilitiesTransferredFromLevelOneToLevelTwo" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_AssetsAndLiabilitiesTransferredFromLevelOneToLevelTwo" xlink:to="opy_AssetsAndLiabilitiesTransferredFromLevelOneToLevelTwo_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_AssetsAndLiabilitiesTransferredFromLevelOneToLevelTwo_lbl" xml:lang="en-US">Assets and Liabilities Transferred from Level One to Level Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_AssetsAndLiabilitiesTransferredFromLevelOneToLevelTwo_lbl" xml:lang="en-US">Assets and liabilities transferred from level one and level two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_AssetsAndLiabilitiesTransferredFromLevelOneToLevelTwo_lbl" xml:lang="en-US">Assets and liabilities transferred from level one to level two.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeMaturityDates" xlink:label="us-gaap_DerivativeMaturityDates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeMaturityDates" xlink:to="lab_DerivativeMaturityDates" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeMaturityDates" xml:lang="en-US">Derivative, Maturity Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeMaturityDates" xml:lang="en-US">Interest rate swap expiration date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xlink:label="us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xlink:to="lab_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xml:lang="en-US">Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xml:lang="en-US">Ineffective portion of derivative included in income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="us-gaap_LettersOfCreditOutstandingAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LettersOfCreditOutstandingAmount" xlink:to="us-gaap_LettersOfCreditOutstandingAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LettersOfCreditOutstandingAmount_lbl" xml:lang="en-US">Letters Of Credit Outstanding Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LettersOfCreditOutstandingAmount_lbl" xml:lang="en-US">Outstanding letters of credit</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_SecuritiesPurchasesAgainstPurchaseOffersAndLegalSettlement" xlink:label="opy_SecuritiesPurchasesAgainstPurchaseOffersAndLegalSettlement" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_SecuritiesPurchasesAgainstPurchaseOffersAndLegalSettlement" xlink:to="opy_SecuritiesPurchasesAgainstPurchaseOffersAndLegalSettlement_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_SecuritiesPurchasesAgainstPurchaseOffersAndLegalSettlement_lbl" xml:lang="en-US">Securities Purchases Against Purchase Offers And Legal Settlement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_SecuritiesPurchasesAgainstPurchaseOffersAndLegalSettlement_lbl" xml:lang="en-US">Company purchased and holds auction rate securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_SecuritiesPurchasesAgainstPurchaseOffersAndLegalSettlement_lbl" xml:lang="en-US">Securities purchases against purchase offers and legal settlement.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InvestmentHoldingsLineItems" xml:lang="en-US">Investment Holdings [Line Items]</label>
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    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ScheduleOfStatementOfOperationsSupplementalDisclosuresTableTextBlock" xlink:label="opy_ScheduleOfStatementOfOperationsSupplementalDisclosuresTableTextBlock" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SecuritiesLoanedOrSoldUnderAgreementsToRepurchaseFairValueDisclosure_lbl" xml:lang="en-US">Securities sold under agreements to repurchase</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PaymentsForRepurchaseOfCommonStock" xml:lang="en-US">Payments for Repurchase of Common Stock</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeMember" xml:lang="en-US">Derivative [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInOtherIncome" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInOtherIncome" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInOtherIncome" xml:lang="en-US">Unrealized Gains (Losses)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xml:lang="en-US">Transfers In/ Out</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_DerivativeDescriptionOfTerms" xlink:label="us-gaap_DerivativeDescriptionOfTerms" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DerivativeDescriptionOfTerms" xml:lang="en-US">Derivative, Description of Terms</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PreferredStockParOrStatedValuePerShare" xml:lang="en-US">Preferred Stock, Par or Stated Value Per Share</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common stock par value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="lab_CommonStockSharesAuthorized" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CommonStockSharesAuthorized" xml:lang="en-US">Common stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CommonStockSharesAuthorized" xml:lang="en-US">Common Stock, Shares Authorized</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_StockRepurchaseProgramPercentageOfSharesRepurchaseOfOutstandingShare" xlink:label="opy_StockRepurchaseProgramPercentageOfSharesRepurchaseOfOutstandingShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_StockRepurchaseProgramPercentageOfSharesRepurchaseOfOutstandingShare" xlink:to="opy_StockRepurchaseProgramPercentageOfSharesRepurchaseOfOutstandingShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_StockRepurchaseProgramPercentageOfSharesRepurchaseOfOutstandingShare_lbl" xml:lang="en-US">Stock Repurchase Program Percentage of Shares Repurchase of Outstanding Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_StockRepurchaseProgramPercentageOfSharesRepurchaseOfOutstandingShare_lbl" xml:lang="en-US">Percentage of repurchase of class A common stock.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_StockRepurchaseProgramPercentageOfSharesRepurchaseOfOutstandingShare_lbl" xml:lang="en-US">Percentage of repurchase of class A common stock</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_ShareCapitalAdditionalTextualAbstract" xlink:label="opy_ShareCapitalAdditionalTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ShareCapitalAdditionalTextualAbstract" xlink:to="opy_ShareCapitalAdditionalTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ShareCapitalAdditionalTextualAbstract_lbl" xml:lang="en-US">Share Capital (Additional Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_ShareCapitalAdditionalTextualAbstract_lbl" xml:lang="en-US">Share Capital (Additional Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_ShareCapitalAdditionalTextualAbstract_lbl" xml:lang="en-US">Share capital.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="lab_PreferredStockSharesIssued" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PreferredStockSharesIssued" xml:lang="en-US">Preferred stock issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PreferredStockSharesIssued" xml:lang="en-US">Preferred Stock, Shares Issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:label="us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:to="lab_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xml:lang="en-US">Stock Repurchase Program, Number of Shares Authorized to be Repurchased</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xml:lang="en-US">Repurchase of class A common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockSharesRetired" xlink:label="us-gaap_TreasuryStockSharesRetired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockSharesRetired" xlink:to="lab_TreasuryStockSharesRetired" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_TreasuryStockSharesRetired" xml:lang="en-US">Repurchase and cancelled stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TreasuryStockSharesRetired" xml:lang="en-US">Treasury Stock, Shares, Retired</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:to="lab_TreasuryStockValueAcquiredCostMethod" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TreasuryStockValueAcquiredCostMethod" xml:lang="en-US">Treasury Stock, Value, Acquired, Cost Method</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_TreasuryStockValueAcquiredCostMethod" xml:lang="en-US">Total Consideration of repurchase and cancelled stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:label="us-gaap_TreasuryStockAcquiredAverageCostPerShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:to="lab_TreasuryStockAcquiredAverageCostPerShare" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en-US">Treasury Stock Acquired, Average Cost Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_TreasuryStockAcquiredAverageCostPerShare" xml:lang="en-US">Repurchase and cancelled stock par value</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CashAndSecuritiesSegregatedUnderOtherRegulationsMeasureAtFairValue" xlink:label="opy_CashAndSecuritiesSegregatedUnderOtherRegulationsMeasureAtFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_CashAndSecuritiesSegregatedUnderOtherRegulationsMeasureAtFairValue" xlink:to="opy_CashAndSecuritiesSegregatedUnderOtherRegulationsMeasureAtFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CashAndSecuritiesSegregatedUnderOtherRegulationsMeasureAtFairValue_lbl" xml:lang="en-US">Cash And Securities Segregated Under Other Regulations Measure At Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_CashAndSecuritiesSegregatedUnderOtherRegulationsMeasureAtFairValue_lbl" xml:lang="en-US">Cash and Securities segregated for regulatory and other purposes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_CashAndSecuritiesSegregatedUnderOtherRegulationsMeasureAtFairValue_lbl" xml:lang="en-US">Cash and securities segregated under other regulations measure at fair value.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="us-gaap_FinancialInstrumentAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentAxis" xlink:to="lab_FinancialInstrumentAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FinancialInstrumentAxis" xml:lang="en-US">Financial Instrument [Axis]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInRealizedGainLossIncludedInOtherIncome" xlink:label="opy_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInRealizedGainLossIncludedInOtherIncome" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInRealizedGainLossIncludedInOtherIncome" xlink:to="opy_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInRealizedGainLossIncludedInOtherIncome_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInRealizedGainLossIncludedInOtherIncome_lbl" xml:lang="en-US">Realize Gains (Losses)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInRealizedGainLossIncludedInOtherIncome_lbl" xml:lang="en-US">Fair Value Liabilities Measured On Recurring Basis Change In Realized Gain Loss Included In Other Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueLiabilitiesMeasuredOnRecurringBasisChangeInRealizedGainLossIncludedInOtherIncome_lbl" xml:lang="en-US">Fair value liabilities measured on recurring basis change in realized gain loss included in other income.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="us-gaap_PaymentsOfDebtIssuanceCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDebtIssuanceCosts" xlink:to="lab_PaymentsOfDebtIssuanceCosts" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PaymentsOfDebtIssuanceCosts" xml:lang="en-US">Payments of Debt Issuance Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_PaymentsOfDebtIssuanceCosts" xml:lang="en-US">Payments of Debt Issuance Costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfSeniorDebt" xlink:label="us-gaap_RepaymentsOfSeniorDebt" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfSeniorDebt" xlink:to="lab_RepaymentsOfSeniorDebt" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RepaymentsOfSeniorDebt" xml:lang="en-US">Repayments of Senior Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_RepaymentsOfSeniorDebt" xml:lang="en-US">Repayments of Senior Debt</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_RegulatoryRequirementsTextBlock" xlink:label="opy_RegulatoryRequirementsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_RegulatoryRequirementsTextBlock" xlink:to="opy_RegulatoryRequirementsTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_RegulatoryRequirementsTextBlock_lbl" xml:lang="en-US">Regulatory Requirements [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_RegulatoryRequirementsTextBlock_lbl" xml:lang="en-US">Regulatory requirements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_RegulatoryRequirementsTextBlock_lbl" xml:lang="en-US">Regulatory requirements</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_IntendsToPurchaseNoncontrollingInterest" xlink:label="opy_IntendsToPurchaseNoncontrollingInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_IntendsToPurchaseNoncontrollingInterest" xlink:to="opy_IntendsToPurchaseNoncontrollingInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_IntendsToPurchaseNoncontrollingInterest_lbl" xml:lang="en-US">Intends to Purchase Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_IntendsToPurchaseNoncontrollingInterest_lbl" xml:lang="en-US">Intends to purchase non-controlling interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_IntendsToPurchaseNoncontrollingInterest_lbl" xml:lang="en-US">Intends to purchase non-controlling interest</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_PercentageOfNoncontrollingInterest" xlink:label="opy_PercentageOfNoncontrollingInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_PercentageOfNoncontrollingInterest" xlink:to="opy_PercentageOfNoncontrollingInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_PercentageOfNoncontrollingInterest_lbl" xml:lang="en-US">Percentage of Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_PercentageOfNoncontrollingInterest_lbl" xml:lang="en-US">Percentage of non-controlling interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_PercentageOfNoncontrollingInterest_lbl" xml:lang="en-US">Percentage of non-controlling interest</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_OffsettingAssetsAndLiabilitiesPolicyTextBlock" xlink:label="opy_OffsettingAssetsAndLiabilitiesPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_OffsettingAssetsAndLiabilitiesPolicyTextBlock" xlink:to="opy_OffsettingAssetsAndLiabilitiesPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_OffsettingAssetsAndLiabilitiesPolicyTextBlock_lbl" xml:lang="en-US">Offsetting Assets and Liabilities Policy Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_OffsettingAssetsAndLiabilitiesPolicyTextBlock_lbl" xml:lang="en-US">Disclosures about Offsetting Assets and Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_OffsettingAssetsAndLiabilitiesPolicyTextBlock_lbl" xml:lang="en-US">Offsetting assets and liabilities.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_EarningsPerShareTextualAbstract" xlink:label="opy_EarningsPerShareTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_EarningsPerShareTextualAbstract" xlink:to="opy_EarningsPerShareTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_EarningsPerShareTextualAbstract_lbl" xml:lang="en-US">Earnings Per Share (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_EarningsPerShareTextualAbstract_lbl" xml:lang="en-US">Earnings Per Share (Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_EarningsPerShareTextualAbstract_lbl" xml:lang="en-US">Earnings per share.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:to="lab_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xml:lang="en-US">Quantitative Information about Level 3 Fair Value Measurements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="lab_MinimumMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueInputsQuantitativeInformationAbstract" xlink:label="us-gaap_FairValueInputsQuantitativeInformationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsQuantitativeInformationAbstract" xlink:to="lab_FairValueInputsQuantitativeInformationAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueInputsQuantitativeInformationAbstract" xml:lang="en-US">Fair Value Inputs, Quantitative Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueInputsQuantitativeInformationAbstract" xml:lang="en-US">Quantitative Information about Level 3 Fair Value Measurements</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueInputsValuationAdjustment" xlink:label="opy_FairValueInputsValuationAdjustment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueInputsValuationAdjustment" xlink:to="opy_FairValueInputsValuationAdjustment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueInputsValuationAdjustment_lbl" xml:lang="en-US">Fair Value Inputs Valuation Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueInputsValuationAdjustment_lbl" xml:lang="en-US">Valuation Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueInputsValuationAdjustment_lbl" xml:lang="en-US">Fair value inputs valuation adjustment.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueMeasurementsValuationTechniques" xlink:label="us-gaap_FairValueMeasurementsValuationTechniques" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsValuationTechniques" xlink:to="lab_FairValueMeasurementsValuationTechniques" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueMeasurementsValuationTechniques" xml:lang="en-US">Fair Value Measurements, Valuation Techniques</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueMeasurementsValuationTechniques" xml:lang="en-US">Valuation Technique</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueUnobservableInputsDuration" xlink:label="opy_FairValueUnobservableInputsDuration" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueUnobservableInputsDuration" xlink:to="opy_FairValueUnobservableInputsDuration_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueUnobservableInputsDuration_lbl" xml:lang="en-US">Fair Value Unobservable Inputs Duration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_FairValueUnobservableInputsDuration_lbl" xml:lang="en-US">Duration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_FairValueUnobservableInputsDuration_lbl" xml:lang="en-US">Fair value unobservable inputs duration.</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_FairValueUnobservableInputCurrentYield" xlink:label="opy_FairValueUnobservableInputCurrentYield" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_FairValueUnobservableInputCurrentYield" xlink:to="opy_FairValueUnobservableInputCurrentYield_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_FairValueUnobservableInputCurrentYield_lbl" xml:lang="en-US">Fair Value Unobservable Input Current Yield</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:label="us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xml:lang="en-US">Types of Financial Instruments [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_InvestmentsPrincipleAmount_lbl" xml:lang="en-US">Investments Principle Amount</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueInputsDiscountRate" xml:lang="en-US">Fair Value Inputs, Discount Rate</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_TwoMajorUsBrokerMember" xlink:to="opy_TwoMajorUsBrokerMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_TwoMajorUsBrokerMember_lbl" xml:lang="en-US">Two Major US Broker [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_TwoMajorUsBrokerMember_lbl" xml:lang="en-US">Two major US broker.</label>
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    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_LongTermDebtAdditionalTextualAbstract" xlink:label="opy_LongTermDebtAdditionalTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_LongTermDebtAdditionalTextualAbstract" xlink:to="opy_LongTermDebtAdditionalTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_LongTermDebtAdditionalTextualAbstract_lbl" xml:lang="en-US">Long Term Debt (Additional Textual) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_LongTermDebtAdditionalTextualAbstract_lbl" xml:lang="en-US">Long-term debt.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StockRepurchasedAndRetiredDuringPeriodShares" xml:lang="en-US">Stock Repurchased and Retired During Period, Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_StockRepurchasedAndRetiredDuringPeriodShares" xml:lang="en-US">Repurchased and cancelled pursuant to the stock buy-back</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="us-gaap_ScheduleOfStockByClassTable" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfStockByClassTable" xml:lang="en-US">Schedule of Stock by Class [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ClassOfStockLineItems" xml:lang="en-US">Class of Stock [Line Items]</label>
    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_CapitalCommitments" xlink:label="opy_CapitalCommitments" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_CapitalCommitments_lbl" xml:lang="en-US">Capital Commitments</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_EuroDollarsFuturesMember_lbl" xml:lang="en-US">Euro Dollars Futures [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_EuroDollarsFuturesMember_lbl" xml:lang="en-US">Euro Dollars Futures [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_ReservesForTaxPositions" xlink:to="opy_ReservesForTaxPositions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_ReservesForTaxPositions_lbl" xml:lang="en-US">Reserves for tax positions</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IncomeTaxExaminationInterestExpense" xlink:label="us-gaap_IncomeTaxExaminationInterestExpense" />
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    <loc xlink:type="locator" xlink:href="opy-20120630.xsd#opy_DistressedOpportunitiesInvestmentTrustMember" xlink:label="opy_DistressedOpportunitiesInvestmentTrustMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_DistressedOpportunitiesInvestmentTrustMember" xlink:to="opy_DistressedOpportunitiesInvestmentTrustMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_DistressedOpportunitiesInvestmentTrustMember_lbl" xml:lang="en-US">Distressed Opportunities Investment Trust [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_DistressedOpportunitiesInvestmentTrustMember_lbl" xml:lang="en-US">Distressed Opportunities Investment Trust [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_DistressedOpportunitiesInvestmentTrustMember_lbl" xml:lang="en-US">Distressed opportunities investment trust.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="opy_NotionalValueOfPurchaseOfToBeAnnouncedSecurities" xlink:to="opy_NotionalValueOfPurchaseOfToBeAnnouncedSecurities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_NotionalValueOfPurchaseOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional Value Of Purchase Of To Be Announced Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_NotionalValueOfPurchaseOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional Value of purchase of to be announced securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_NotionalValueOfPurchaseOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional value of purchase of to be announced securities.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="opy_NotionalValueOfSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional Value Of Sale Of To Be Announced Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_NotionalValueOfSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional value of sale of to be announced securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="opy_NotionalValueOfSaleOfToBeAnnouncedSecurities_lbl" xml:lang="en-US">Notional Value of sale of to be announced securities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="opy_AdjustmentToIncomeTaxExpense_lbl" xml:lang="en-US">Adjustment to income tax expense.</label>
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