Feb. 7, 2024
SR-OCC-2024-001 34-99393 To Whom It May Concern, Thank you for the opportunity to comment on SR-OCC-2024-001 34-99393 entitled "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". There are several concerns about the OCC rule proposal. HIGHLY OPPOSE TO THIS PROPOSAL, AND DO NOT SUPPORT ITS APPROVAL!. I'm concerned about the lack of transparency in our financial system as evidenced by this rule proposal, amongst others. 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 that 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. For this reason, this rule proposal should be rejected and Clearing Members should be subject to strictly defined margin requirements as other investors are. It s time for Retail Investors to be protected and for the “bad players” to pay for their abuse of the financial establishment. Thank you for your time. Antonio Cabello This email contains information that may be confidential and/or privileged. If you are not the intended recipient, or the employee or agent authorized to receive for the intended recipient, you may not copy, disclose or use any contents in this email. If you have received this email in error, please immediately notify the sender at Birmingham Industrial Construction, LLC by replying to this email and delete the original and reply emails.