I think it is easiest to look at transaction fee splitting and...

I think it is easiest to look at transaction fee splitting and possibly the way to get a handle on it? I don't know the exact breakup, but at a guess........

The wholesale deal at present is ISX 45%/ NAB 55%, now ISX is having to use 3rd Parties so it is now ISX 15% /3rd Party 85%, Post Tier 1 ISX 100%.

Is that it or am I being too simplistic. Becomes complicated when the other streams get slotted in for each Merchant's individual requirements. The last quarterly numbers will be close to double if these flipped up post Tier 1?

Whatever, the MD is excited, so am I.