Subject: File No. S7-05-22
From: Jonas Klokke
Affiliation: Retail investor

February 18, 2022

Shortening the the Securities Transaction Settlement Cycle is one of the many needed initiatives to be put in place to ensure a more even playing field for retail investors. In a market where numerous trades are traded in mere milliseconds there is no reason to not implement instantaneous settlement. If you want to buy or sell a stock - there needs to be a stock.

Do the right thing.

Best regards
Jonas