Feb. 3, 2024
Dear SEC, I am deeply concerned about the proposed rule change SR-OCC-2024-001 34-99393, titled “Proposed Rule Change by The Options Clearing Corporation Regarding Its Margin Requirement Calculation Process in High Volatility Scenarios,” Over and over again the rules are seemingly bent to favor large institutions at the expense of retail investors. This needs to stop as it is not fair, orderly, or efficient for markets. It is a step in the wrong direction. Margin requirements were put in place as a risk measure and they need to be enforced not ignored. Waiving these requirements puts more strain and risk on the system and is not fair to other participants who do not have the same privileges afforded to them. Those parties who have made riskier bets on margin need to be held accountable. As an individual investor, I have significant reservations about this proposal and believe it should NOT be approved. Sincerely, Andrew M.