Feb. 10, 2024
Subject: SR-OCC-2024-001 34-99393 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 am HIGHLY OPPOSED to this proposal and DO NOT support its approval. These rules create an even more unfair marketplace for retail investors. The OCC needs to immediately stop waiving margin calls and reducing margins for “the Too Big to Fail” and Clearing Members. Clearing Members need to be held to the same rules as retail investors. Everyone playing by the same rules is the only way to create a fair trading environment. An even playing field will result in better risk assessment and decision making by all participants. Even a child could understand this proposed rule will encourage hyperinflated excessive risk taking by “the Too Big to Fail” resulting in even larger potential losses. If this rule is passed and combined with the current practice of waiving or reducing margin requirements for select/favored institutions, the only logical conclusion is that pedaling of influence is occurring. Given the impact this has on the average citizen of our country and the demonstrated historical impact on our economy (e.g. 2008 crash), this should be considered treason. This proposed rule displays a willful act to harm our country. If the financial regulating authorities want to demonstrate they are not compromised, they will immediately enforce the current margin requirements enacted. Timothy T. Reis