To whom it may concern, I am writing to oppose the Proposed Rule Change under SR-OCC-2024-001 by The Options Clearing Corporation because it jeopardizes market fairness, transparency, and stability. Key Concerns: Lack of Transparency: Redactions in Exhibit 5 hinder public review, undermining fair regulation and market integrity. Accountability: Attempting to shift blame onto U.S. regulators indicates a lack of accountability within the regulatory framework. Conflict of Interest: Codifying conflict for the Financial Risk Management Officer undermines risk management. Inadequate Protection: Failure to enforce margin requirements exposes participants to increased financial risk. Systemic Risk: Prioritizing reduced margin requirements overlooks systemic risk, favoring short-term gains over long-term stability. Exploitation of Position: Exploiting status as a single point of failure sets a dangerous precedent. Governance Clarity: Proposal lacks transparent governance, eroding trust in the regulatory process. Immediate Action Required: Prompt suspension and liquidation of Clearing Members are imperative to prevent escalating problems. Reducing Systemic Risks: Promoting redundancy and resiliency in financial markets is crucial to minimizing systemic failures. Stronger Safeguards Needed: Proposal should prioritize stronger safeguards and transparent governance. In Conclusion: Rejecting the Proposed Rule Change is essential to uphold fair markets, protect investors, and ensure financial system stability. Thank you for your attention to these concerns. Sincerely, Jakob Barnett