In the beginning, there was high-touch trading. And traders said it was good. Then came low-touch trading and traders said it too was good and fast. And that’s the way trading was conducted for many many years– either by telephony and voice brokers or by algorithms and computers. Brokers around Wall Street offered the buy-side these two options to cater to their trading needs and charged accordingly and everyone was happy. And then came plateau in trading commissions – as institutional firms were looking to trim their broker costs and what they paid for trades.