Ann: Quarterly 4C and Activities Report, page-4

Yes, he (I presume) clearly has a gift for technology in his own business and his 'deep dive' analytics have proven their worth.

Page 3 of the 4C shows average trades of the ASX in decline whilst SWF shows trading numbers rise. Clearly a result of new traders on the platform. It hard to doubt Dan's supposition that free trades will account for revenue not rising by 15% QonQ (but close enough) but looking at customer acquisition numbers not dropping away, as he has stated numerous times previously, will turn to revenue in due course.

Page 1, 'Active Trader Growth' would seem to be the lead indicator to future revenue.

MJB