Aug. 09, 2022
August 9, 2022 I oppose and recommend that the SEC reject this SR-OCC-2022-802, Notice of Filing of Advance Notice Related to a Master Repurchase Agreement as Part of The Options Clearing Corporations Overall Liquidity Plan. I believe the OCC should instead focus on enhancing its margin requirements for existing participants and demand collateral within minutes/hours of an expected volatile event in the stock market. Chance Fergerson has a great response to this: \"The OCC has an obligation to manage the risk of its participants and the investments traded through the OCC. At no point, should a financial contagion scenario be allowed to ensnare others, rather it should be absorbed by those government agencies and participating members who knowingly engaged in a shared default agreement.\" I echo this sentiment - innocent bystanders should not be held responsible for bailing out firms who made bad bets in the market. Thanks for your time and consideration.