Aug. 03, 2022
Powered by Anonymousemail → Join Us! Hello, I am a retail investor that invest in the US stock market. If The Options Clearing Corporation would indeed fail to meet its payment obligations, letting them obtain funds from other organizations is not only irresponsible to the public, but ripe for abuse. The fact that this proposal allows the Non-Bank Liquidity Facility program to help the Options Clearing Corporation minimize losses would cause the public to foot the bill. In addition, removing the 1 billion dollar cap of the Non-Bank Liquidity Facility program would allow the Options Clearing Corporation to continue to access more, without advance filing. The goal of this proposal of reducing risk, is also in this instance, reducing responsibility. It also states the proposal is intended to minimize losses, and it's clear who will pay for those losses. Taxpayers, teachers pensions, insurance companies, any negligence on the Options Clearing Corporation would be transferred without halt, and without strict supervision to someone who ultimately is not responsible. If you let this rule pass, people that had nothing to do with the OOC will lose money, if the OOC would fail. If you let this rule pass, you, the SEC will be responsible for the devastating damage it would cause. / David