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    <link:label id="lab_us-gaap_BankLoans_2E8D52BECF301852BCFC55F09875B72E_terseLabel_en-US" xlink:label="lab_us-gaap_BankLoans_2E8D52BECF301852BCFC55F09875B72E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank call loans</link:label>
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    <link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_E582C8EEF5837D3D11C355F098767134_terseLabel_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_E582C8EEF5837D3D11C355F098767134" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding letters of credit</link:label>
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    <link:label id="lab_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4_negatedLabel_en-US" xlink:label="lab_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Valuation adjustment (unrealized loss) for ARS</link:label>
    <link:label id="lab_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4_label_en-US" xlink:label="lab_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Adjustment For Level Three Assets</link:label>
    <link:label id="lab_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4_documentation_en-US" xlink:label="lab_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valuation adjustment for the level 3 assets used for quantitative disclosure.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_ValuationAdjustmentForLevelThreeAssets" xlink:label="loc_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4" xlink:to="lab_opy_ValuationAdjustmentForLevelThreeAssets_69D3F4B3A00A2F9F40974F5DE58A37F4" xlink:type="arc" />
    <link:label id="lab_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519_terseLabel_en-US" xlink:label="lab_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Spread To U S Treasury Rate</link:label>
    <link:label id="lab_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519_label_en-US" xlink:label="lab_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Spread To U S Treasury Rate</link:label>
    <link:label id="lab_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519_documentation_en-US" xlink:label="lab_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Spread represents ARS maximum formula which is used to discount for the lack of liquidity as a result of ARS failed auction.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_SpreadToUSTreasuryRate" xlink:label="loc_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519" xlink:to="lab_opy_SpreadToUSTreasuryRate_39CCECAC2728E718057F4F5DE58A9519" xlink:type="arc" />
    <link:label id="lab_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847_terseLabel_en-US" xlink:label="lab_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U S Treasury Rate</link:label>
    <link:label id="lab_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847_label_en-US" xlink:label="lab_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U S Treasury Rate</link:label>
    <link:label id="lab_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847_documentation_en-US" xlink:label="lab_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Specific period of US Treasury rate as of reporting period.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_USTreasuryRate" xlink:label="loc_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847" xlink:to="lab_opy_USTreasuryRate_C221561A69E680F3E7D34F5DE58A9847" xlink:type="arc" />
    <link:label id="lab_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E_terseLabel_en-US" xlink:label="lab_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments Lock In Period</link:label>
    <link:label id="lab_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E_label_en-US" xlink:label="lab_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments Lock In Period</link:label>
    <link:label id="lab_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E_documentation_en-US" xlink:label="lab_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments lock in period.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_InvestmentsLockInPeriod" xlink:label="loc_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E" xlink:to="lab_opy_InvestmentsLockInPeriod_4E057294242A9FEE85D64F5DE58B170E" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_5857D263F6EB041CC5254F5DE58B6AF9_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_5857D263F6EB041CC5254F5DE58B6AF9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_5857D263F6EB041CC5254F5DE58B6AF9_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_5857D263F6EB041CC5254F5DE58B6AF9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_5857D263F6EB041CC5254F5DE58B6AF9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_5857D263F6EB041CC5254F5DE58B6AF9" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_5857D263F6EB041CC5254F5DE58B6AF9" xlink:type="arc" />
    <link:label id="lab_opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_CA15C527A989DC8CD13F4F5DE58BD9F6_terseLabel_en-US" xlink:label="lab_opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_CA15C527A989DC8CD13F4F5DE58BD9F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward or delayed delivery of the underlying instrument with settlement</link:label>
    <link:label id="lab_opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_CA15C527A989DC8CD13F4F5DE58BD9F6_label_en-US" xlink:label="lab_opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_CA15C527A989DC8CD13F4F5DE58BD9F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Settlement Period In Case Of Delayed Delivery Of Underlying Instrument</link:label>
    <link:label id="lab_opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_CA15C527A989DC8CD13F4F5DE58BD9F6_documentation_en-US" xlink:label="lab_opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_CA15C527A989DC8CD13F4F5DE58BD9F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum settlement period in case of delayed delivery of underlying instrument.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument" xlink:label="loc_opy_MaximumSettlementPeriodInCaseOfDelayedDeliveryOfUnderlyingInstrument_CA15C527A989DC8CD13F4F5DE58BD9F6" xlink:type="locator" />
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    <link:label id="lab_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA_terseLabel_en-US" xlink:label="lab_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Unobservable Input Current Yield</link:label>
    <link:label id="lab_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA_label_en-US" xlink:label="lab_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Unobservable Input Current Yield</link:label>
    <link:label id="lab_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA_documentation_en-US" xlink:label="lab_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value unobservable input current yield.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_FairValueUnobservableInputCurrentYield" xlink:label="loc_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA" xlink:to="lab_opy_FairValueUnobservableInputCurrentYield_250FD3876A72120172D54F5DE58B11CA" xlink:type="arc" />
    <link:label id="lab_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E_terseLabel_en-US" xlink:label="lab_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Redemption Notice Period Maximum</link:label>
    <link:label id="lab_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E_label_en-US" xlink:label="lab_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Redemption Notice Period Maximum</link:label>
    <link:label id="lab_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E_documentation_en-US" xlink:label="lab_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment redemption notice period maximum.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_InvestmentRedemptionNoticePeriodMaximum" xlink:label="loc_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E" xlink:to="lab_opy_InvestmentRedemptionNoticePeriodMaximum_FFE8D366A4D8278944094F5DE58CDA1E" xlink:type="arc" />
    <link:label id="lab_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6_verboseLabel_en-US" xlink:label="lab_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total amount of ARS the firm purchased and hold</link:label>
    <link:label id="lab_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6_label_en-US" xlink:label="lab_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amount Of Auction Rate Securities Firm Purchased And Hold</link:label>
    <link:label id="lab_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6_documentation_en-US" xlink:label="lab_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total amount of ARS the firm purchased and hold.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold" xlink:label="loc_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6" xlink:to="lab_opy_AmountOfAuctionRateSecuritiesFirmPurchasedAndHold_2D24B0319DF8BA3A99ED4F5DE58C50A6" xlink:type="arc" />
    <link:label id="lab_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F_terseLabel_en-US" xlink:label="lab_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Auction Rate Securities Committed To Purchase related to settlements with regulators</link:label>
    <link:label id="lab_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F_label_en-US" xlink:label="lab_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Auction Rate Securities Committed To Purchase related to settlements with regulators</link:label>
    <link:label id="lab_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F_documentation_en-US" xlink:label="lab_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Auction Rate Securities Committed To Purchase related to settlements with regulators</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators" xlink:label="loc_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F" xlink:to="lab_opy_AuctionRateSecuritiesCommittedToPurchaserelatedtosettlementswithregulators_4BB49676C8971405147C4F5DE58CDB8F" xlink:type="arc" />
    <link:label id="lab_opy_AuctionRateSecuritiesCommittedToPurchaseFromClient_0F311F7496BB18BE7B404F5DE58CDFBC_terseLabel_en-US" xlink:label="lab_opy_AuctionRateSecuritiesCommittedToPurchaseFromClient_0F311F7496BB18BE7B404F5DE58CDFBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Auction Rate Securities Committed To Purchase From Client</link:label>
    <link:label id="lab_opy_AuctionRateSecuritiesCommittedToPurchaseFromClient_0F311F7496BB18BE7B404F5DE58CDFBC_label_en-US" xlink:label="lab_opy_AuctionRateSecuritiesCommittedToPurchaseFromClient_0F311F7496BB18BE7B404F5DE58CDFBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Auction Rate Securities Committed To Purchase From Client</link:label>
    <link:label id="lab_opy_AuctionRateSecuritiesCommittedToPurchaseFromClient_0F311F7496BB18BE7B404F5DE58CDFBC_documentation_en-US" xlink:label="lab_opy_AuctionRateSecuritiesCommittedToPurchaseFromClient_0F311F7496BB18BE7B404F5DE58CDFBC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of ARS the firm committed to purchase from clients.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_AuctionRateSecuritiesCommittedToPurchaseFromClient" xlink:label="loc_opy_AuctionRateSecuritiesCommittedToPurchaseFromClient_0F311F7496BB18BE7B404F5DE58CDFBC" xlink:type="locator" />
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    <link:label id="lab_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752_terseLabel_en-US" xlink:label="lab_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Of Level Three Assets</link:label>
    <link:label id="lab_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752_label_en-US" xlink:label="lab_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Of Level Three Assets</link:label>
    <link:label id="lab_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752_documentation_en-US" xlink:label="lab_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of the level 3 assets used for the quantitative disclosure.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_FairValueOfLevelThreeAssets" xlink:label="loc_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752" xlink:to="lab_opy_FairValueOfLevelThreeAssets_41088BA0A1E1D46AA3324F5DE58CA752" xlink:type="arc" />
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    <link:label id="lab_opy_AmortizationOfNotesReceivable_43D6A25028A77899159855C93B7C94A4_documentation_en-US" xlink:label="lab_opy_AmortizationOfNotesReceivable_43D6A25028A77899159855C93B7C94A4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The expense charged against earnings for the periodic recognition of the loans to employees. These loans are generally forgiven over a service period of 3 to 5 years and deducted from earnings through amortization.</link:label>
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    <link:label id="lab_opy_IncreaseDecreaseInReceivableFromCustomers_FF56462351A496D8001755C93B7D7BDB_documentation_en-US" xlink:label="lab_opy_IncreaseDecreaseInReceivableFromCustomers_FF56462351A496D8001755C93B7D7BDB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The change during the period, either increase or decrease, in amounts receivable from customers. The term customers generally excludes other broker-dealers; persons who are principal officers, directors, and stockholders; and persons whose securities or funds are part of the regulatory net capital of the broker-dealer. Another broker-dealer's account can be classified as a customer if the account is carried as an omnibus account in compliance with certain regulations. The accounts of principal officers, directors and stockholders may be combined in the customer captions if they are not material and the combination is disclosed in the oath that is required to accompany the annual audited FOCUS Report.</link:label>
    <link:loc xlink:href="opy-20190331.xsd#opy_IncreaseDecreaseInReceivableFromCustomers" xlink:label="loc_opy_IncreaseDecreaseInReceivableFromCustomers_FF56462351A496D8001755C93B7D7BDB" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements_A115F0D57E2424D20F6755C93B7EA53D_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivablesUnderRepurchaseAgreements_A115F0D57E2424D20F6755C93B7EA53D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Securities purchased under agreements to resell</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_530D0147B7911CB0FEE155C93B7EB540_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_530D0147B7911CB0FEE155C93B7EB540" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_C3024C7EC7040471BAC555C93B7FF5ED_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract_C3024C7EC7040471BAC555C93B7FF5ED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in operating liabilities:</link:label>
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    <link:label id="lab_opy_IncreaseDecreaseInDraftPayable_AE5DF236F16B08263B3F55C93B7FAD84_terseLabel_en-US" xlink:label="lab_opy_IncreaseDecreaseInDraftPayable_AE5DF236F16B08263B3F55C93B7FAD84" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Drafts payable</link:label>
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    <link:label id="lab_opy_IncreaseDecreaseInDraftPayable_AE5DF236F16B08263B3F55C93B7FAD84_documentation_en-US" xlink:label="lab_opy_IncreaseDecreaseInDraftPayable_AE5DF236F16B08263B3F55C93B7FAD84" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in cash during the reporting period in drafts payable.</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_0DEF96EBC55C967EBDCF55C93B7F02F1_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInPayablesToBrokerDealers_0DEF96EBC55C967EBDCF55C93B7F02F1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payable to brokers, dealers and clearing organizations</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInPayablesToCustomers_CA88A055F82722C6039D55C93B7FA32B_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInPayablesToCustomers_CA88A055F82722C6039D55C93B7FA32B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payable to customers</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInPayablesToCustomers" xlink:label="loc_us-gaap_IncreaseDecreaseInPayablesToCustomers_CA88A055F82722C6039D55C93B7FA32B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_215712462C76215D818755C93B7F5575_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_215712462C76215D818755C93B7F5575" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Income Taxes Payable</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements_B9B9F82DC858D039882455C93B7F6A9B_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements_B9B9F82DC858D039882455C93B7F6A9B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities sold under agreements to repurchase</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased_A6C4AB54576D8156327355C93B808844_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased_A6C4AB54576D8156327355C93B808844" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities sold but not yet purchased</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_0C7224393FEB3CECF0DA55C93B80C0E9_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_0C7224393FEB3CECF0DA55C93B80C0E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued compensation</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireIntangibleAssets_C446F3CBE29A79C14E3255C93B81EB29_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireIntangibleAssets_C446F3CBE29A79C14E3255C93B81EB29" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Purchase of tangible assets</link:label>
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    <link:label id="lab_us-gaap_StatementLineItems_7048985FD81DFBCA61B456467E7BF4AD_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems_7048985FD81DFBCA61B456467E7BF4AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_D0B5AF38BF84D83BACAB56467E7CA4E7_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_D0B5AF38BF84D83BACAB56467E7CA4E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_D0B5AF38BF84D83BACAB56467E7CA4E7" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_854F5E2F0ED0AB14921A56467E7CB6D3_terseLabel_en-US" xlink:label="lab_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_854F5E2F0ED0AB14921A56467E7CB6D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits with clearing organizations</link:label>
    <link:label id="lab_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_854F5E2F0ED0AB14921A56467E7CB6D3_label_en-US" xlink:label="lab_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_854F5E2F0ED0AB14921A56467E7CB6D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposits with Clearing Organizations and Others, Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities" xlink:label="loc_us-gaap_DepositsWithClearingOrganizationsAndOthersSecurities_854F5E2F0ED0AB14921A56467E7CB6D3" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_5BD8B97293588113ABF856467E7CF4B5_label_en-US" xlink:label="lab_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_5BD8B97293588113ABF856467E7CF4B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables from Brokers-Dealers and Clearing Organizations</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_5BD8B97293588113ABF856467E7CF4B5" xlink:to="lab_us-gaap_ReceivablesFromBrokersDealersAndClearingOrganizations_5BD8B97293588113ABF856467E7CF4B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ReceivablesFromCustomers_3FC2B1054BE0D480CFA656467E7D5F14_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesFromCustomers_3FC2B1054BE0D480CFA656467E7D5F14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable from customers, net of allowance for credit losses of $898 ($886 in 2018)</link:label>
    <link:label id="lab_us-gaap_ReceivablesFromCustomers_3FC2B1054BE0D480CFA656467E7D5F14_label_en-US" xlink:label="lab_us-gaap_ReceivablesFromCustomers_3FC2B1054BE0D480CFA656467E7D5F14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables from Customers</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ReceivablesFromCustomers" xlink:label="loc_us-gaap_ReceivablesFromCustomers_3FC2B1054BE0D480CFA656467E7D5F14" xlink:type="locator" />
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    <link:label id="lab_us-gaap_IncomeTaxesReceivable_09E492B2CD8692D43F2756467E7D0184_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesReceivable_09E492B2CD8692D43F2756467E7D0184" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income tax receivable</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesReceivable_09E492B2CD8692D43F2756467E7D0184_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesReceivable_09E492B2CD8692D43F2756467E7D0184" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Taxes Receivable, Current</link:label>
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    <link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_16D490E2B06B5A82445856467E7D8B88_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_16D490E2B06B5A82445856467E7D8B88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities purchased under agreements to resell</link:label>
    <link:label id="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_16D490E2B06B5A82445856467E7D8B88_label_en-US" xlink:label="lab_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_16D490E2B06B5A82445856467E7D8B88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securities Purchased under Agreements to Resell</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_SecuritiesPurchasedUnderAgreementsToResell_16D490E2B06B5A82445856467E7D8B88" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecurityOwned_7440516DE6FBCD13320756467E7D35C5_netLabel_en-US" xlink:label="lab_us-gaap_SecurityOwnedAndSoldNotYetPurchasedFairValueSecurityOwned_7440516DE6FBCD13320756467E7D35C5" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Securities owned, including amounts pledged of $390,832 ($517,951 in 2018), at fair value</link:label>
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    <link:label id="lab_us-gaap_DueFromEmployees_EC6D937A269A286F091B56467E7DC38F_verboseLabel_en-US" xlink:label="lab_us-gaap_DueFromEmployees_EC6D937A269A286F091B56467E7DC38F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Notes receivable, net of accumulated amortization and allowance for uncollectibles of $24,548 and $6,841 respectively ($25,109 and $6,800, respectively, in 2018)</link:label>
    <link:label id="lab_us-gaap_DueFromEmployees_EC6D937A269A286F091B56467E7DC38F_label_en-US" xlink:label="lab_us-gaap_DueFromEmployees_EC6D937A269A286F091B56467E7DC38F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due from Employees</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_3E611159AD92162FA65E56467E7E7DC9_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_3E611159AD92162FA65E56467E7E7DC9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Furniture, equipment and leasehold improvements, net of accumulated depreciation of $90,974 ($89,182 in 2018)</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_3E611159AD92162FA65E56467E7E7DC9_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_3E611159AD92162FA65E56467E7E7DC9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Net</link:label>
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    <link:label id="lab_us-gaap_DraftsPayable_C04D679A56510E65A34356467E7F86F6_terseLabel_en-US" xlink:label="lab_us-gaap_DraftsPayable_C04D679A56510E65A34356467E7F86F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Drafts payable</link:label>
    <link:label id="lab_us-gaap_DraftsPayable_C04D679A56510E65A34356467E7F86F6_label_en-US" xlink:label="lab_us-gaap_DraftsPayable_C04D679A56510E65A34356467E7F86F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Drafts Payable</link:label>
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    <link:label id="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_FF63E103689A92F4E92A56467E800BDE_terseLabel_en-US" xlink:label="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_FF63E103689A92F4E92A56467E800BDE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payable to brokers, dealers and clearing organizations</link:label>
    <link:label id="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_FF63E103689A92F4E92A56467E800BDE_label_en-US" xlink:label="lab_us-gaap_PayablesToBrokerDealersAndClearingOrganizations_FF63E103689A92F4E92A56467E800BDE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payables to Broker-Dealers and Clearing Organizations</link:label>
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    <link:label id="lab_us-gaap_PayablesToCustomers_C6DAC1296D853E9B4F8356467E805210_terseLabel_en-US" xlink:label="lab_us-gaap_PayablesToCustomers_C6DAC1296D853E9B4F8356467E805210" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payable to customers</link:label>
    <link:label id="lab_us-gaap_PayablesToCustomers_C6DAC1296D853E9B4F8356467E805210_label_en-US" xlink:label="lab_us-gaap_PayablesToCustomers_C6DAC1296D853E9B4F8356467E805210" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payables to Customers</link:label>
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    <link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_0A86E0FB8F410B556F9C56467E80411D_terseLabel_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_0A86E0FB8F410B556F9C56467E80411D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities sold under agreements to repurchase</link:label>
    <link:label id="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_0A86E0FB8F410B556F9C56467E80411D_label_en-US" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_0A86E0FB8F410B556F9C56467E80411D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securities Sold under Agreements to Repurchase</link:label>
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    <link:label id="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_66F75596C4F97B8BC8F656467E80FD59_label_en-US" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_66F75596C4F97B8BC8F656467E80FD59" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee-related Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_66F75596C4F97B8BC8F656467E80FD59" xlink:type="locator" />
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    <link:label id="lab_us-gaap_TaxesPayableCurrentAndNoncurrent_138145D6328E9CE566F056467E80A519_label_en-US" xlink:label="lab_us-gaap_TaxesPayableCurrentAndNoncurrent_138145D6328E9CE566F056467E80A519" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taxes Payable</link:label>
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    <link:label id="lab_us-gaap_AccountsPayableCurrentAndNoncurrent_C974A2EDEF98DC6911C656467E81905D_label_en-US" xlink:label="lab_us-gaap_AccountsPayableCurrentAndNoncurrent_C974A2EDEF98DC6911C656467E81905D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsPayableCurrentAndNoncurrent" xlink:label="loc_us-gaap_AccountsPayableCurrentAndNoncurrent_C974A2EDEF98DC6911C656467E81905D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeaseLiability_E99D668FA7C380776A2F56467E815E6A_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiability_E99D668FA7C380776A2F56467E815E6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability</link:label>
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    <link:label id="lab_us-gaap_SecuredDebt_6710DA5A646F69EF5CE556467E8118C3_label_en-US" xlink:label="lab_us-gaap_SecuredDebt_6710DA5A646F69EF5CE556467E8118C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_79687ADC76E1A1B0785F5E2305E3F622_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_79687ADC76E1A1B0785F5E2305E3F622" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt</link:label>
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