We just wouldn't let anybody beat us is all...we were an exceptional group.

It is probably the single most significant step in the history of the exchange.

Larger hubs of buyers and sellers combined together make it easier for them to find one another.

It may just simply not be cost-effective to maintain the physical trading floor.

I think they have a limited amount of room to raise prices and fees. There's only so much they can do before people are squeezed out or go elsewhere.

They are going to turn a lot of attention to a growth strategy ... striving to meet the investor growth expectations that underlie the stock price.