They have the opportunity to increase their share of the futures brokerage business ... They may be able to pick up clients and individuals who work at Refco.
We are likely to upgrade our 2006 numbers slightly as a result, and do not believe that the shares look expensive relative to the peer group, once allowance is made for the cash on the balance sheet.
It's extraordinary ... People were saying this business has gone ex-growth. The shares look firmly underpinned at current levels.