The U.S. markets are in a constant state of evolution driven by innovation and at times, new entrants. Throughout the history of U.S. markets, there have been moments when inefficiencies are identified and the evolutionary process proceeds toward an improved market. We believe the events that occurred in late January and early February, 2021, involving the trading of GameStop (GME) are one such moment. We have a marketplace that provides educational resources to millions of investors and enables them to connect and trade with little to no transactional friction. However, the recent events demonstrate more needs to be done towards educating investors, improving efficiencies in market infrastructure and providing greater transparency into certain activities.

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