Feb. 7, 2024
Thank you for the opportunity to provide feedback on SR-OCC-2024-001 34-99393 titled “Proposed Rule Change by The Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility”. I have several concerns regarding the OCC rule proposal, and I strongly oppose it. I do not support its approval. One major concern is the lack of transparency within our financial system, exemplified by this rule proposal. The proposal, along with supporting information, is heavily redacted, which inhibits public review. This lack of transparency prevents meaningful public engagement and undermines the democratic process. Therefore, I urge the rejection of this proposal based on this lack of transparency.