You worked for Pacific Exchange for five years prior to Arca's acquisition of PCX in September 2005, what will your approach be in running the options exchange heading forward?
Well, there are four things that drive us; technology, innovative products, low customer fees and customer service. It sounds very easy, but it's very difficult to get right but if we do we're going to have a successful exchange.
Do you see some gaps out there in the options exchange marketplace where you have a real chance of shining, perhaps in terms of technology or innovation?
The new platform is the state of the art, newest exchange platform out there. The throughput and bandwidth capabilities, from what we know, far exceeds competing exchanges. From a development and capital standpoint, it's based upon our NYSE Arca equity platforms so there are a lot of synergies there. This is something where we think...