Feb. 4, 2024
Dear Securities and Exchange Commission, I am opposed to the proposed rule change. Margin calls exist for the express purpose of preventing risky derivatives from causing serious problems in the system. If we allow margin calls to be dynamically changed during volatility, we run the risk of allowing derivatives to continue brewing until they become even more unmanageable. This rule shouldn't be enacted because it adds serious risk to the system and reduces the ability of real price discovery to happen. I would go as far to propose that there even needs to be rules in place that require more money asked during a margin call to make sure that settlement can still happen without causing serious damage and contagion won't spread into other parts of the system. To restate, I am opposed to SR-OCC-2024-001 34-99393 Thank you for your consideration and continued efforts, Ralph McHugh