From: Mark Drury [mdrury@kc.rr.com]
Sent: Saturday, January 03, 2004 11:28 AM
To: rule-comments@sec.gov
Subject: Transaction clearing times (s7-26-03)

I would like to air a concern with regard to T+3 clearing time for stock
transactions.  The rule appears arbitrary and out-of-date considering
electronic transactions can be completed in a nanosecond.  I believe the SEC
should review and update the policy to no more than T+1, just like your
banker.  Why would it take longer than one day if everyone involved in the
market is playing with their own or margined funds?  Who's using our money
for the time it's not in our accounts?  These anomalies could and should be
corrected in the near future for the benefit of individual investors.  This
would make much more sense.  Just my two cents.  Thanks for listening.