What's the Technology Disruption?

Bob Greene: It's hard to believe and if you want to sense of what technological disruption is like today there's 225 people on the floor doing 15 to 20% of the volume. In 1996 when I was down here temporarily they were trading in eights spreads was an eighth. They went to 16th six and a quarter cent spread and then in 2000 they went to penny spreads. That very much disrupted the overall model. You can imagine trading stocks with increments of an eighth. Then electronic trading disrupted things. When all of a sudden you could successfully execute orders by electronic means. There were also alternative trading venues that were established at that time outside of not just the NYC but even NASDAQ which