Subject: File No. S7-05-22
From: Jaime N. Calaf

February 9, 2022

To whom it may concern:

I agree with this proposed rule change. The fact of the matter is that in present-day there should be no delay on a trade settlement. Any rule change to shorten the period is a positive step for the markets and for trades/investors as well. I agree that shortening the settlement cycle has promoted investor protection, risk reduction, and overall increases in operational efficiency.