Phoenix works in a investment bank and her client wants some analysis regarding tick size changes. Looking at the following table showing the tick sizes:

Phoenix is asked if the level of the changes in the tick sizes from 2014/1/14 to the 2014/7/22 (as highlighted in red box) show "no rent" for liquidity providers? How should Phoenix explain it? (Justify your answers thoroughly and completely)

Above 1,000 yen 3,000 yen 5,000 yen 10,000 yen 30,000 yen 50,000 yen 100,000 yen 300,000 yen 500,000 yen 1 million 3 million 5 million 10 million 30 million 50 million Details of the recent change in tick size TOPIX100 constituents Price 2014/01/14 2014/07/22 Up to 1,000 yen 0.1 3,000 yen 1 0.5 5,000 yen 10,000 yen 1 30,000 yen 5 50,000 yen 100,000 yen 10 300,000 yen 50 500,000 yen 1 million 100 3 million 500 5 million 10 million 1,000 30 million 5,000 50 million 10,000 5 10 50 100 500 1,000 5,000 10,000 Other issues 1 5 10 50 100 500 1,000 5,000 10,000 50,000 100,000 Above 1,000 yen 3,000 yen 5,000 yen 10,000 yen 30,000 yen 50,000 yen 100,000 yen 300,000 yen 500,000 yen 1 million 3 million 5 million 10 million 30 million 50 million Details of the recent change in tick size TOPIX100 constituents Price 2014/01/14 2014/07/22 Up to 1,000 yen 0.1 3,000 yen 1 0.5 5,000 yen 10,000 yen 1 30,000 yen 5 50,000 yen 100,000 yen 10 300,000 yen 50 500,000 yen 1 million 100 3 million 500 5 million 10 million 1,000 30 million 5,000 50 million 10,000 5 10 50 100 500 1,000 5,000 10,000 Other issues 1 5 10 50 100 500 1,000 5,000 10,000 50,000 100,000