May 14, 2024
Dear SEC, I am writing to express my endorsement of your decision to reject SR-OCC-2024-001, as outlined in the Federal Register. The rationale provided on pages 4-5 resonates with me, particularly the concerns regarding: The potential hindrance to the prompt and accurate clearing and settlement of securities transactions, as well as the safeguarding of securities and funds. The lack of well-defined and transparent governance structures with clear lines of responsibility. The inadequacies in policies and procedures related to managing credit exposures to participants, coupled with insufficient margin calculations to account for potential future risks. Maintaining the integrity and stability of our financial markets is of paramount importance, and I commend your commitment to upholding these principles. Your diligence in scrutinizing proposals and identifying potential vulnerabilities is crucial for preserving investor confidence and the overall health of our financial system. Thank you for your dedication to safeguarding the interests of all market participants and ensuring fair and ethical practices. Sincerely, Ray Payne. Sent from Mail for Windows