The value of the Liquidity Desk alone

Does anybody have any thoughts on what the liquidity desk alone would be worth if there was no air pocket? I think this has been talked about before, but not for a while. Looking at the quarterlies its not clear to me what gets spent on what part of the business. Could this company have made a $1m+ profit over the past year had it solely focused on running this part of the business as efficient as possible? Not suggesting that Air pocket is a waste of time as it has far greater potential, but just wondering how much this underlying part of the business is worth as it does offer a certain risk reduction if air pocket goes nowhere.