Even if/when it happens, I imagine the Specialists will retain a way of hosing the retail investor. Remember Richard Ney's anecdote about Lucky Luciano:
"The story is told that after he had been deported to Italy, Lucky Luciano granted an interview in which he described a visit to the floor of the New York Stock Exchange. When the operations of floor specialists had been explained to him, he said, 'A terrible thing happened. I realized I'd joined the wrong mob'"
