There's been so much learning on the job for the small firms, and that's hard to replicate, ... It's not the kind of environment the full-service firms are used to. It's like asking horse-racers to drive Ferraris.

If you watch the first hour of trading, it's like the Wild West, ... There's clearly less hanky-panky going on after the first hour.

They generate the majority of their revenues now from the tax programs, ... Perhaps they're just reiterating their commitment to the Mac platform.

You're asking firms to alienate 95% of their revenue-producing assets [their brokers] for 5% of the business.

[As for Yahoo!, the company has] expressed some interest in it privately so it doesn't surprise me, ... Yahoo! isn't a financial institution, not a broker dealer, so it'd have to get involved in that to facilitate trade.

This was the obvious thing that they should have done about two years ago. I think they lost a lot of ground by being indecisive between now and then. And it's a little disconcerting that they're waiting until December to actually get this up and running.