Cryptocurrency

The PIP Network has opened up and unlocked reserves of data that came from trading firms that never ever distributed it for external use before. Some of the participants include Jump Trading, Jane Street, Susquehanna, and they're contributing their data directly on chain. This is something they've never once used externally before. So it's very cool. Mike, you used to work at Morgan Stanley. Why is it that high frequency trading firms are more likely to engage with this universe than a large firm like Morgan Stanley? You see some of those big houses starting to trade in crypto, but it's really at the margins.