Aug. 09, 2022
August 9, 2022 After first reading the proposal I had to check the calendar to ensure it wasnt April fools day, unfortunately we are no where near April. This is by far one of the most devastatingly dangerous proposals I have ever read from any subsidiary of the DTCC. It is my opinion as a retail investor that under no circumstances should Wall Street be able to tap into these liquidity lines. Pensions and Main Street funds should never be intermingled with settling Wallstreets bad gambling debts. Instead the OCC should immediately margin call and liquidate whatever parties this was obviously written ahead of time for. Instead of this proposal perhaps the OCC should consider better risk management solutions that would insulate the need for external liquidity. Perhaps not allowing option contractors writers to infinitely write naked contracts that the OCC is on the hook for settling. The DTCC and its subsidiaries are not a federal organization. You are a private company. You dont get to touch Main Street assets. If you go bankrupt than so be it. A better more robust solution/company will come to replace you such as blockchain based settlement system.