April 26, 2022
The Options Clearing Corporation is increasing investor risk with this proposal because it suggests removing liability from their own risk management as a Corporation and increases the amount due in the event of a default -- which will occur because the Options Clearing Corporation has used proposals like this for years with an agreeable Securities and Exchange Commission -- in order to protect themselves at individual investors' expense, all the while subtly acknowledging their own part in raising the likelihood of their policies creating the potential for a default. The rationale with many of the proposals like this one is that the Options Clearing Corporation will do less work, here it's removing their responsibility for netting, and they boldly reference a lobbying organization whose largest subsidiary is supported by the Options Clearing Corporation according to their own press release. Disapprove this and keep current protection for individual investors.