When the customer went to a market maker, and the spread is an eighth, he's technically being charged 12 cents a share.

When the spread is wide, packers are forced into the market — and producers have leverage. When the spread narrows, packers have the leverage.

We would have been technically insolvent had they not done that.

That integration is extremely important for our cost roadmap but also for our strategic positioning against our competitors like the New York Stock Exchange.

Traders are increasingly looking for ways to trade more efficiently across all asset classes.

It doesn't sound like a lot. And it isn't a lot but it's six more cents and when you put it in perspective it adds up.