Feb. 7, 2024
Thank you for the opportunity to comment on SR-OCC-2024-001 34-99393. Proposed Rule Change by The Options Clearing Corporation Concerning its Process for Adjusting Certain Parameters in its Proprietary System for Calculating Margin Requirements During Periods When the Products it Clears and the Markets it Serves Experience High Volatility. I ADAMANTLY OPPOSE this proposal. As a retain trader, I have spent many years of my adult life trading, attempting to build an investment that will serve me in retirement. I am concerned about the lack of transparency in our financial system as evidenced by this rule proposal. The details of this proposal along with supporting information are significantly redacted which prevents public review making it impossible for the public to meaningfully review and comment on this proposal and this proposal should be rejected on this basis alone. THESE RULES CREATE AN UNFAIR MARKETPLACE FOR MARKET PARTICIPANTS, ESPECIALLY RETAIL INVESTORS who are forced to face the consequences of long-tail risks while the OCC repeatedly waives margin calls for Clearing Members by repeatedly reducing their margin requirements. Clearing Members should be subject to strictly defined margin requirements as other investors are. SR-OCC-2024-001 34-99393 should be rejected on that basis. Thank you, Marta Juchniewicz, CPA