It is incumbent on us to facilitate the development of a market structure that best assures that these changes benefit the U.S. securities markets as a whole.
We have an opportunity today that we may not have again in our lifetime, to realize the vision for a true national market system,
The tension between centrality, on the one hand, and competition, on the other, is probably the oldest of all market structure issues.
Promoting the interaction of orders remains one of the most difficult, but crucially important, challenges we face concerning our national market system.
It is time for the U.S. securities market to make this change,