Jan. 22, 2024
The redacted material leads me to believe that SR-OCC-2024-001 is obscured from public view because it would be harmful to them. However, from what can be deciphered, it appears that this rule will coddle the elite’s bad or otherwise foolish options bets with delaying or removal of margin calls, regardless of the losses or margin amount. This essentially says “if you’re rich enough, bad bets and system-breaking short-selling will just be the system’s, and the public’s problem, not yours” This is utter indifference to market health and function, and retail investor well-being. It is an abhorrent rigging of the market, baby-proofing the process of robbing the public by Wallstreet, and brazenly passing the bill to retail This rule should be stricken due to its poten for one-sided harm, and its generally appalling nature. For concern of the balanced function of the markets, bad bets must be paid, margin requirements and margin calls must be honored, whether the entity that made the bet is protected or not This rule SR-OCC-2024-001 is indignation and profoundly cynical kleptomaniacal favoritism. Strike this rule for the good of the public