What are your thoughts about the future for the options industry? It's undergoing some dramatic changes today.
I'm very bullish on it. These additional exchanges have parents or backers that are very successful and have capable people behind them. And I can't see all these people entering a marketplace if all they are going to do is cannibalise the existing business.
In terms of the marketplace, the market share is shifting. ISE [International Securities Exchange] was the bogeyman when they came to the market. They made a push and I think you'll see others build on that and try to make it one better. So it'll be an evolution.
And we read a lot of doom and gloom in the financial press about the equity and options markets. Actually, overall options volume is up this year. So the overall strength of the industry remains healthy.
That information seems to be...