Feb. 4, 2024
SEC, This is a message to comment on the proposed rule SR-OCC-2024-001 adjusting margin requirement parameters. I am against this rule, as it loosens margin requirements, and reduces transparency in the market. Loosening margin requirements will just allow bad actors to take more and more risk, until it blows up in their faces and collapses and destroys the markets, hurting the financial standing of innocent bystanders as well as the bad actors (if we are lucky). The SEC currently is doing nearly nothing to stop rampant abuse of the SRO model, which allows bad actors to simply hold themselves accountable when they do something to hurt the overall market, which never happens (kids who did something wrong don't tell on themselves). Do not approve this rule, it simply widens the gap between the Goliaths and Davids in the market. The market is currently built like a casino where the house always wins. The house is the big players (market makers), hedge funds, large banks, etc.), and the gamblers are the day traders. The only way the day trader wins is if they bet the same way as the big dogs do. I hope this message reaches someone, versus simply sitting on a server and adding +1 to the comment counter. Thank you for your time, and I hope the SEC decision leans toward a fairer market. With regards, Jordan W