May 17, 2024
Dear Members of the Securities and Exchange Commission, This message is to express concerns about proposed rule SR-OCC-2024-001 34-100009 which once again, gives preferential treatment to those who continue to game and abuse the market. I support the SEC rejecting rule SR-OCC-2024-001 34-100009 . We all took similar finance classes, we know why margin is important. Who is the backstop in the event that a party exposes the OCC to an infinite risk position? Someone needs to pay up on their bad bets and it would be nice to see "smart money” actually do something smart with their money rather than skirting the rules every time they make a mistake. The real workings of the US financial system are showing through the thousands of cracks that these rules have put into the foundation of the “free market”. Additionally, this would only benefit large institutions with direct access to the OCC. Any retail trader would be expected to post margin immediately to their broker and their positions post no risk to the American Financial system, Wall Street should be held to the same standard. Reject rule SR-OCC-2024-001 34-100009 . Regards, Justin Gannon