disconnecting securities related derivatives from securities markets because as i go on to probably at graceland in my statement the concern is you can create a synthetic security position utilizing derivatives projects intimately tied to the securities markets for which we have primary concern. they are important for capital formation and millions of investors in the united states so the impact these securities derivatives can have on the primary securities market is a concern i would hate to see be decoupled. it has been as many durham of attacks have banned from their primary markets over the last 15 or 20 years or so but to me that's the most important linkage between the securities derivatives and securities markets and the same would be true for the markets at the cftc regulates. >> go ahead. >> i think you raise a very important point. we have to market regulators and the securities and options markets the sec regulates and futures markets that the cftc regulates and now we are bringing this market of derivatives with the congress held under regulation and derivatives have attributes of s