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I have been tracking this also. I think the notion of the floor being automated out of existance is unlikely. Also, as a techie, I see the opportunities for skullduggery under the grey covers of the computers far greater than "open outcry" and much harder to detect. Of interest is that, although seats have dropped a bunch in price, they haven't gone down all that much. Seats on the commodity exchanges by contrast have gone nuts. The post a couple up noting that the big money is in arbitrage, not commissions is telling. The market volitility is terrible which is killing the arbs and the hedge funds, depressing their stocks. The heat from the Feds on LaBranch seems to have cooled. They are reporting good progress on some of their secondary products. I am about ready to dip my toe in the water here.

Ken
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