May 7, 2024
Dear Commission, First and foremost thank you for your time. I am commenting on this rule as a supporter of the SEC's decision to deny the "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 markets it serves experience high volatility". These are the reasons why: Covered Clearing Agencies are designed to promote the expeditious and accurate settlement of securities transactions. They are also meant to assure the custody and control of the clearing agency responsible. Rule 17Ad-22(e)(2) of the Exchange Act, 15 supports those objectives and should be uphold. To elaborate, Rule 17Ad-22(e)(2) of the Exchange Act, 15 requires covered clearing agencies adhere to proper, equitable and safe practices that protect our markets, taxpayers, individual and institutional investors. This is a good thing and these rules are needed to prevent another "Great Recession". We can't allow undercapitalized clearing houses. That can lead to something worse than the Great Recession and is against the best interests of fair markets and that is why UPHOLDING Rule 17Ad-22(e)(2) of the Exchange Act, 1 is so important. I graduated college in 2009 and know the impact of the Great Recession first hand. My peers and I couldn't find jobs after graduation and when we did find work the pay lagged significantly behind where it would have been without the Great Recession. We are still paying that price in lost wages/capital appreciation and will for the rest of our lives. By writing this letter in support of upholding Rule 17Ad-22(e)(2) of the Exchange Act, 1 I'm working to prevent this next generation from having the same burden that mine did. It is also positive for institutional investors by supporting fair, transparent markets. We all win by upholding! We are demanding the rule be upheld and clearing houses be monitored thoroughly and capitalized appropriately so that we can provide a better future for all individuals and institutions through fair, resilient financial markets. Thank you again for your time. I love America, love this planet and love all of you.