Feb. 9, 2024
Hello, As a retail investor, I 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”. I have several concerns about the OCC rule proposal, do not support its approval, and appreciate the opportunity to comment. To be clear, I am completely against this proposed rule change. I’m concerned about the lack of transparency in our financial system as evidenced by this rule proposal, amongst others. First of all, the details of this proposal are significantly redacted which prevents public review making it impossible for the public to meaningfully review and comment on this proposal. Without opportunity for a full public review, this proposal should be rejected on that basis alone! Here is how I see things right now: As a retail investor, I play by the rules. When I buy a stock, I do so thinking that the rules are fair, that the market is not rigged and expecting that the rules will be enforced and implemented, no matter how exceptional a situation is. Rules are rules. But what I see today is that, on the stock market, the people who make the rules keep them when they are in their favour, but can change the rules whenever they want to ensure that they always keep winning, no matter what. I ask you: How is this fair? This stock market I invest in and believe in is turning out to NOT be a fair market at all! Don’t retail investors have ANY RIGHTS anymore??? I’ve been around long enough to notice that, on multiple occasions, the rules are NOT being implemented when they should and now you are even trying to CHANGE the rules. This is absolutely inadmissible and I will NOT tolerate it! Thank you for the opportunity to comment as all investors benefit from maintaining a fair, transparent, and resilient market. Sincerely, A Concerned Retail Investor