As you approach your first anniversary as a publicly
traded company, what has been the biggest change for the exchange, management and shareholders?
One of the biggest changes is managing a whole new group of constituents of the Board of Trade - our shareholders. That is true of any publicly traded company and our experience has been very positive. We've been able to change our governance model into a for-profit entity relatively seamlessly. I think we've demonstrated over the first few quarters, with management and Charlie Carey as chairman, that everyone has responded to the challenges of what it means to be a publicly traded company.
I'm very pleased with how the transition has gone. What we're trying to build on are some of the great strengths of the Board of Trade and to translate those into performance opportunities and benefits for common shareholders and full members.
Have the changes been...