May 4, 2024
I support the SEC's disapproval for " 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 believe that a fair, competitive, and open financial system is a corner-stone to a successful capitalistic society. I believe margin requirements and stress around a clearing member's ability to obtain liquidity are a natural result of failures to self-regulate, and that the degree to which this proposal is redacted directly removes any faith in market members exposed to this rule to self-regulate. A clearing firm's failure to fulfill obligations should naturally threaten the stability of subsequent parties. This risk should be a regulating force on clearing bodies. The requirement(s) for me to change my opinion on this proposal would be: A. A massive reduction in the quantity and quality of redacted content from the preceding proposal SR-OCC-2024-001 34-99393 B. Regulation being set up formally to replace any lack of self-regulation C. Consistently and firmly enforced margin requirements upheld by impartial and open third parties D. A government or private process to audit and examine any regulations or failures for fraud Capital markets should be safe-guarded from market players who would create financial commitments they cannot fulfil, and the only way to do so, will be to create and maintain regulation accordingly. Sincerely, Benjamin Evan Ryle, MS CPE Business owner, Field expert in Signals/Systems/ASIC design