We don't need big exchanges. BTS should and will only be traded on the internal market and all on-ramps will be in bitassets. This would mean that points of exchange will be able to function at full effectiveness with almost no volume, and we would finally get rid of the problem of goxing, trusting a third party with your savings, manipulation, willy bot etc. It means our on-ramps will be small operations, but spread out all over the place. The feeds will function by averaging the precision of the pegs of the respective bitasset on-ramps and using the average as a multiplier to move the feed price based on the market rate of the internal market.