Feb. 7, 2024
Dear whomever it may concern: These rules create an unfair marketplace for market participants, especially retail investors, who are forced to face the consequences of long-term risks while the OCC repeatedly waives margin calls for Clearing Members by repeatedly reducing their margin requirements. For this reason, this rule proposal should be rejected and Clearing Members should be subject to strictly defined margin requirements as other investors are. This rule proposal should be rejected and Clearing Members should face the consequences of failing to properly manage their portfolio risk. Clearing Member failure is a natural disincentive against excessive leverage and insufficient capitalization as others in the market will not cover their loss. If I as a retail investor was margin called on 10 cents by my broker they would threaten to forcibly sell my positions. I do not think the clearinghouses should get preferential treatment. This I am asking the SEC to oppose this rule. Thank you,