I hope, on the other hand, we do not overreact to a tremendous downturn in the market and try to do some things that over time might hurt the very people that we would all like to see retire with greater savings in hand.

I am not necessarily in any way saying that is a good idea. I am just asking the question.

the whole purpose is to keep that order in your pocket until you know that you have been able to transact it without moving the market

I hope that we will not get into the mode of trying to legislate returns.

I am trying to develop some kind of consensus with all of you who are testifying, and, again, thank you for being here with the vast amount of knowledge you have.

the issue of colocation, do you mind, since you all--obviously, I am sure people want to collocate near NASDAQ

I think Mr. Derbyshire wanted to respond to your question.

I think this has been, though, really enlightening, and it seems to me that what Labor has said is that we need to make sure that employers are far more educating employees.

I suppose that--and I know this is not something that we in essence regulate, but you potentially feel a greater obligation to the people investing to ensure that your funds perform than you would if you were just getting a fee, if you…

So if we are going to be almost all electronic exchanges, even the New York Stock Exchange--I am just wondering whether that is not the world they should have been in years ago.

It seems to me very much like what existed on the New York Stock Exchange where you would call a specialist, they would make a trade for you.

I am proud of you and proud for you.