Feb. 28, 2024
Hi, I would like to comment in regards to the proposed rule change titled in header SR-OCC-2024-001. I do not believe this change would benefit the public as it allows certain individuals to determine whether margin requirements are enforced should they pose a risk to the clearing members. This rule would completely dismantle trust in the market. Members that have unbalanced positions are a serious threat to the financial stability of our country. This rule should not be passed by the SEC, and I am writing today to voice my concern as a household investor that this is not a rule change that would benefit anyone but those with very unhealthy balance sheets. This will give the ability for the OCC to pull from other funds besides the clearing members and completely destroy the trust the public has in the SEC doing what is right, establishing confident and trustworthy markets and margin calling those that pose risk beyond what they are capable of covering themselves. Giving FRM the ability to decide who is margin called or not would give them unlimited power to destroy every single value in companies, while others that have unlimited financial tools at their disposal would take advantage of it with no oversight or care for balancing the market. Do not pass this rule change SEC. Thank you kindly, Matt Gubitz