If I recall correctly, the "4 directions" were a side show. I think the "4 directions" were framed as conditions where ISX "might be allowed to trade" and not "will be allowed to trade"...?
I don't know how it became the centrepiece - surprised no one is talking about the disconnect in escrow requirement/offer between the 2 parties.
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Round 2 ISX vs ASX, page-182
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