Ann: ASX Query Letters re ISX suspension & termination by Visa, page-145

It seems apparent that ISX has violated some disclosure requirements with regard to the Visa termination agreement, from a cursory observation Scott. In the absence of compelling counter arguments I’d say ISX sure has a case to answer here. Regardless of the fact the ISX May feel aggrieved by how it’s been treated by ASX, it still ought to be the bigger player here and play by the rules. I suspect the angst of losing Visa could have played a significant impact on the ‘Market Perception’ around ISX even if it was not material to ISX’s bottom line. In a way ASX May be playing the long game here by slowly decimating ISX by attrition. If that’s the case, it could be quite effective in crippling ISX. Even in the instance that ISX managed to prove its case in court, the damage might be too much to survive afterwards. I think this is the case because I cannot understand why so much effort could be put by ASX on events subsequent to the suspension, while the suspension itself remains unresolved. Particularly with the knowledge that these events would have no impact on the market price due to the suspension.