Feb. 7, 2024
“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”. This OCC rule proposal will create a pernicious market ecosystem against household investors. As one of such; I heavily oppose this proposal and it's approval. It's time for institutions and family offices to be held in accountability and transparency for their loss inducing operations and reckless behavior, that have repeatedly and cyclically decimated the market structure and general economic outlook for all participants. As an alternative or instead of said proposal, the following should take place: - Increase and enforce margin requirements commensurate with risks associated with Clearing Member positions instead of reducing margin requirements. -Clearing Members should be encouraged to position their portfolios to account for stressed market conditions and long-tail risks. The current rule proposal encourages Clearing Members to become ''Too Big To Fail'' in order to pressure the OCC with excessive risk and leverage into implementing idiosyncratic controls more often to privatize profits and socialize losses. “If I go bust, the bank goes bust” -Robert Kiyosaki Thank you for your attention and the opportunity to comment. Jorge H.