Aug. 15, 2022
The filing SR-OCC-2022-802 does not serve the greater interest of protecting the market, but rather, shifts the risk from the OCC to the participating bank counter-parties. It is surely the OCC's responsibility to vet the liquidity of any of their clearing members before processing their option trades. This proposal would allow for OCC to rob the liquidity of any non-default bank counter-party within 60 minutes. That is highly out of the ordinary and imposes significant risk on the bank counter-parties and the average citizens who put faith in the banks. The proposed MRA could cause a great risk to the soundness of the market system as it would let OCC take liquidity from any non-default bank in a one-sided manner. The bank counterparty would be at risk of blindly handing over liquidity to the OCC even if their clearing member defaults. This filing is a predatory approach to the liquidity outside the OCC and would NOT benefit the fair market but rather cause a great volatility. I urge for the SEC to thoroughly review the proposed SR-OCC-2022-803 closely with SR-OCC-2022-802, at the same time, as they are very closely connected. 802 filing customizes the MRA changes with questionable items on the agenda, and 803 applies it to banks, pension funds, etc. Signed, Concerned retail investor