Exactly. After Reg NMS and other massive regulatory changes, it's an open question as to whether the post-2007 market system is the same as it was before. You

Exactly. After Reg NMS and other massive regulatory changes, it's an open question as to whether the post-2007 market system is the same as it was before. You could ask the same question about many different regulatory changes, but Reg NMS is likely to be the biggest.