Ann: ASX Query Letters re ISX suspension & termination by Visa, page-111

I think that everyone needs to settle a little. The timing of the release of this is more than a bit suspect - we have been raising the heat a bit in the last few days.

It is also suspect to me that ASX has either not seen the entire ~200 confidential documents created in the course of the commercial dispute and was only given 7 by someone who read the 200 and decided those were the only ones ASX needed to see or whether ASX chose the 7 out of 200 as the only ones on which to base its accusations.

At any rate, it breaches ASX's own guidance notes that says that in making any decision information should be view with respect to time, place and conditions around the situation of concern. If ASX has only seen 3.5% of the correspondence (or worse still, not sharing conflicting information in the remaining 96.5%), then ASX can hardly take into consideration the conditions surrounding the conflict in which ISX would have been intimately involved. ISX states that Visa advanced a variety of inconsistent reasons for termination in the "atmosphere of controversy", yet ASX chose just one for their release to the market. To be fair, as I said, perhaps ASX only saw 7 out of ~200 letters and that was the only reason it saw. But that is entirely my point.

More importantly, the following excerpt of ISX's response to ASX is important - in case everyone was overcome with reading all ASX's confusing accusatory words and just didn't have the energy to read it. It says:



This, with the fact that AUSTRAC has found no reason to investigate ISX, it would be safe to assume that perhaps since there were no illegal client transactions that transpired nor did any of VISA's feared risks come to pass combined with the fact that VISA offered a variety of inconsistent reasons for termination, that VISA could just as well have had other ulterior motives for the termination.

Additionally,