Feb. 7, 2024
I would like to express my appreciation for the opportunity to address my concerns regarding SR-OCC-2024-001 34-99393, titled "Proposed Rule Change by The Options Clearing Corporation Regarding its Process for Adjusting Certain Parameters in its Proprietary System for Calculating Margin Requirements During Periods of High Market Volatility." As a retail investor, I, along with many others, harbor significant reservations regarding the proposed OCC rule and must emphatically convey my opposition. This proposed amendment appears to undermine the principles of transparency inherent in an open market, thereby compromising the integrity of our financial system. It is incumbent upon regulatory bodies such as yours to safeguard the interests of all market participants, particularly individual investors like myself, from potential disruptions caused by erratic market behaviors or the pursuit of short-term gains by certain entities, including hedge funds, that may disregard established regulations. In stark contrast to the accountability expected of retail investors, who face margin calls and are duly cautioned prior to making investment decisions, the proposed rule seemingly affords larger institutions the latitude to alter regulations in their favor, thereby evading accountability and shifting undue risk onto smaller investors such as myself. This pattern of prioritizing the interests of institutional clients over individual investors is disheartening and exacerbates the prevailing sentiment of inequity within the financial system. It is imperative that regulatory decisions prioritize fairness and stability for all market participants, regardless of size or influence. It is my firm belief that this correspondence is but one of many you will receive expressing discontent with this proposal. The echoes of frustration reverberating from retail investors like myself serve as a poignant reminder of the lessons that ought to have been learned from the financial crisis of 2008. We cannot afford to overlook the importance of transparency, accountability, and fairness in safeguarding the integrity of our markets and protecting the interests of all investors. I thank you for your time and consideration on this matter. Jose Reyna