Word for Word: Adam Nunes runs Nasdaq's options business. He spoke recently at a press conference and, afterwards, to Traders Magazine

Plus, options are a derivative product. You price them based on the underlying. It would be a somewhat empirical question: Are people going to take more edge out of the market, if they don't need to compete on their options quote, assuming their pricing models are to maintain their effectiveness or integrity? It is also worth pointing out that internalization in equities wasn't the SEC's decision. It was a Congressional act, the Maloney Act of the 1940s.