When you look at the numbers as a trader, you must shack your head and laugh.. We are watching the Millionaire boys club. In play, at full speed.

The valuation of Intellectual property , Brand name( 2 min rule by the SEC which will be gone after this biding game ), minus physical value, the 1 billion dollars in the NYSE account and the building...The ARCA deal is valued at ..3.5 billon dollars .

As a trader I can only use the guide of last trade to calculate what the true value is. We know that Goldman paid 6.8 billion for Spear Leeds. They had 21 seats ( 1366 outstanding ) and 50% of the books ( specialist ) on the floor .Spear also had a few 1000 traders( clients ) clearing through its Brokerage.

NYSE seats are worth 2.6 million at their high.. So 21 seats, times that number is around 55 million dollars..To own the Books on the floor and the execution of the few 1000 traders around the World 6.750 billion dollars.

We saw Goldman buy Hull Trading, for 570 million . Again the value of that in physical terms , just a few million dollars for all the seats on the option floors around the country they owned. ..The rest was books on some option floors ( They are free, no one pays for them anymore ) and a trading style.

These numbers don't add up as a trader. 6.8 billon on one deal, 3.5 on another...

Goldman Sachs the retailer, is buying market`s to sell its wares ......and the boys play on