Thank you, Jonathan, for that overly kind welcome.
It's always a treat to be at a gathering like this. One of the fine traditions of the investment business is how the cumulative effect of our work—the work of academics, regulators, and practitioners—has always been the driving force for evolution in market efficiency, effectiveness, and security. A conference like this is part of how that happens. You're here to discuss topics at the forefront of pressing issues affecting market integrity and investor confidence.
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