anyone who thinks assent makes 8-10MM per year is dilusional. Sungard never wanted Assent and its prop garbage to begin with. It was all done for software and clearing. The Andover sellers made it a package deal. Just when Sungard was going to puke out the Assent hairball, new net cap accounting rules were implimented that made trader assets into liabilities. Thus if Assent were spun out, it would immediately collapse without a MAJOR cash infusion. Assent is a bucket shop, high liability, money losing enterprise that this consortium never even looked at when the sale was in process. It will be cut faster than Reuters smoking the Instinet Clearing division. These are the facts. Those stating that this group cant AFFORD to dump a high risk, losing division that is worthless while stating some fictional multiple are either principals, traders, or employees who are masturbating into the wind. Trying to bundle phase III with anything that worthless prop traders do is also dilusional. Phase III is more of a broker's trading tool. A scalp trader would never use this. Phase III ALONE has more worth than the dozen or so Assent prop offices. Assent is finished. It will dry up into 1 or 2 offices faster than Shonfeld or Hold Brothers once this POS has to stand alone.