Feb. 25, 2024
Dear SEC and others, I express concern over the proposed rule change SR-OCC-2024-001. Reducing margin requirements during high volatility could expose Clearing Members and the financial system to significant down-stream risks with the lack of transparency and our (public citizen's) ability to have any real-time influence in matters involving the very system that governs our economic fates. The proposal's potential to qualify unchecked growth of destructive gambling from large institutions and hedge funds is alarming. This could lead to larger systemic and idiosyncratic risks, threatening financial market stability and in turn the global economy. The significant redactions in the proposal hinder comprehensive public review. I urge the OCC to maintain or increase margin requirements, enhance public reporting, and implement external auditing for greater transparency. Sincerely, QD___