want to come up with a different metric for us to price a group off of, we're happy to do that the nbbos the only agreed upon metric people say it doesn't include odd lots include odd lots tighten it up. the value provided by wholesalers is unique. it's unique and we should be very proud of the service that we provide the environment and the execution quality that retail clients have in this country is frankly unparalleled i don't know where she's coming from who's complaining about this retail clients have zero percent trading. the institutional clients aren't complaining. who's the plaintiff here who's the person making the complaint? who's behind all of this controversy? there really isn't a controversy when you look at the facts and data, there is no doubt that this is the best marketplace in the world. >> doug, you know, there's an army of people on twitter, not saying that these people should be the arbiters of whether or not the system is fair, but there is a perception that this system is fair and certain shares where the bulk of the time of the shares don't go to exchanges, let

a spread between the bid and the ask as represented by the nbbo, national best bid and offer.and price improvement to the customers and that's as old as high memorial here that you capture the spread. >> sure. one of the things that people are saying is actually that the quote, unquote best price -- that there's flexibility, if you will, in what the best price actually is. >> yeah. well, i think that's what i've heard from chairman gensler's statements is the nbbo vibrant enough is it reflective of the market activity such that that spread is narrowed as it could be and i think that's an excellent issue for the sec to study one issue that we at robinhood have put out there is that subpenny pricing on exchanges could help this. that could narrow spreads. not exactly a statement in our own interests, right, but one that's good for our customers. so we're going to support and engage in any discussions that result in tighter spreads and better execution of quality for our customers. >> what would happen to the business if gary gensler and the sec were to come to the conclusion the