May 16, 2024
SEC public comment on SR-OCC-2024-001
I oppose the implementation of this rule and any rule that allows a
market participant flexibility ("adjustment" depending on market
conditions) to not comply with existing rules, since such flexibility
would surely encourage a "bail out" mentality behind the participant's
conduct in the market during stable market conditions. What is the
point of the existing rules if, once markets become volatile, a
participant can rely on the existing rules not being enforced as
formulated and written? Such flexibility, written as "adjustments" in
the proposed rule, encourages bad behavior. Accordingly, I oppose the
proposed rule and support enforcing the already formulated and written
margin rules, regardless of market conditions. The public certainly
does not get flexibility ("adjustments") in volatile market conditions.
Best,
Jackson Pethtal
Charlotte NC