Remember most of the volume for individual bond issues is corporations buying and selling huge lots of bonds on individual issues. It will be tricky for any retail broker to insert itself into that market unless they can develop a top to bottom marketplace in parallel that bypasses the Wall Street bond market. That's why I think the retail brokers coming together on this issue to form a parallel bond trading market would generate the needed volumes among retail bond investors to make it possible to bypass the existing OTC bond market.