Feb. 7, 2024
Sir/Ma'am, I am writing to voice my opposition to rule SR-OCC-2024-001 34-99393. This rule changing margin requirements for options clearing will remove accountability from large institutional investors and hedge funds because it will remove the ability to margin call them. This blatant double standard between institutional investors and retail investors is completely unacceptable. Institutional investors should be left vulnerable to their decisions in the same way that retail investors are. Retail does not get special rules for margin requirements during times of high volatility. We get liquidated if we can't meet margin requirements and the same rules should apply to institutional investors. This rule will be the end of retail investing because institutional investors and market makers will be able to be extremely aggressive in shorting companies due to no risk of being margin called/liquidated. If hedge fund managers and other asset management firms have put the system at risk with their behavior, then the behavior needs to be corrected. The solution isn't to change the rules to allow them to continue and increase the behavior. Very Respectfully, Mike Lender