From: Randy Spydell
Sent: November 14, 2016
Subject: S7-22-16

Comments on S7-22-16
Amendment to Securities Transaction Settlement Cycle
Issue: Stock trading

I would like to be treated on a reasonable on-par basis with those stock market investors that execute trades in seconds (or less). "Day traders" seem to be taking our country down the tubes. When I sell an investment (in this case a mutual fund) to pay my bills for things I buy in my local Western Slope community (Grand Junction, Colorado), a trade I executed on 10 November 2016 will not have available funds transferred to my credit union account (ACH electronic transfer) until 16 November 2016.  SIX DAYS!  How about forcing "Day Traders" to wait one hour (60 minutes) to have their sale proceeds "settled" and available for a "buy" and allow me to have my "sell" proceeds available to pay my bills in one day (24 hours.) It would still not be totally on par, but it would be better than waiting 6 days. By the way, the stock market was open 4 of those 6 days, and 2 were weekend days, so I can accept that, but I expect my "sell" executed on Thursday to be available in my credit union by the end of the day Friday (the next day).

I think the changes proposed in S7-22-16, Amendment to Securities Transaction Settlement Cycle, just don't go anywhere near far enough to treat all investors equally and I want the settlement cycle to be 24 hours maximum and 1 hour minimum.