The benefits will go to those that trade in size. But there's no doubt retail investors will benefit.

It's one significant step, but there are still a lot of hurdles to overcome.

It's the U.S. securities market's way to get back business we've lost.

The more securities you can get on a single platform, the more money you make.

Pressure will start coming again from the industry when it becomes clear that it could cut their regulatory compliance costs by having to deal with fewer regulators.

The purchase is certainly no bargain. That would suggest, to the extent they have ambitions for a significant merger, they are concentrating on the London Stock Exchange.

The prospect of a trans-Atlantic exchange is no longer just talk.

I think whatever feelings they may have about the situation, each regulator is going to apply its own rules.

He made some mistakes on the growth side.