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Originally posted by Dineen:
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JLo - we only recently learnt this week (very late Feb 2020) about the NSX partnership and partial acquisition and we all know the last quarter of 2019, for ISX, was also affected cost-wise by implementing a new range of Tier 1 services which could only be alluded to in Dec/Jan 2020. One reason given for the Tier 1 upgrade had been so that ISX did not need to rely on imperfections inherent in the major 4 banks' transaction networks. Source: ASX announcements and ISX investors emails (the ISX investor emails are always repeated in full on the ISX HC forum by some posters).HOWEVER - until the NSX/NSXA/ISA/Probanx agreement was signed, approved, formalised and announced on ASX's own platform, ISX would not have been in a position to reveal the intent/costs/purpose of the increased expenditure in the months prior to this event. Not sure I have understood the content or intent or commentary of your recent post correctly . Many of us would understand and accept there would and will or could be an increased level of costs given the outlay required to see the NSX/ISX collaboration to fruition. The annual report we have seen published today is for the period concluding 31 December 2019.
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Considering they are being investigated for disclosure, maybe they should have been a bit clearer as to what was going to be excluded from their EBIT calculation, considering it is not what many would consider to be EBIT.
