Green Hornet and Joe Salami,
Have a listen to this Alan Kohler interview.
https://www.intelligentinvestor.com.au/investment-news/is-isignthis-out-for-revenge/147666 It’s hysterical, especially this:
.Alan Kohler :
Do you believe that this is fundamentally why you’re in dispute with the ASX now, because you’re competing with them?
John Karantzis:
Absolutely,100 per cent. The regulators, including the RBA, ASIC, APRA, as well as third parties like AusPayNet, have been well aware that we’ve been seeking to create an alternative clearing and settlement system based upon access to certain licensing regimes, including an exchange settlement account at the RBA, an ADI with APRA, certain sell requirements with ASIC, and then access to BSBs and accounts through AusPayNet. I’m not suggesting that any of the regulators leaked, but certainly, there’s a number of parties that were aware of our plans and that would have run headfirst into the ASX’s Austraclear subsidiary. And of course, I don’t believe that the ASX saw us as a threat until it realised that: a) our technology worked; and b) we’re actually making money and profitable.
Alan Kohler :
But the NSX has been listed on the ASX for like 15 years and they’ve never been picked on, so why would that be an issue now for you?
John Karantzis:
Look, I mean, with all due respect to the previous directors of the NSX, it’s been there for the last 14 years and done exactly nothing other than burn money. What has changed is that as soon as ISX starts to get involved, what we see is that we have a company that’s obviously technically competent in ISX, we’re able to deliver technology very much on time and on budget. Then, of course, we’re able to deploy that technology and very quickly reach a profitable position. We went through four years of technology deployment and in the fifth year, we turned to profitability in a matter of mere months, in 2019.
That trend will continue into 2020 and if we didn’t have the yoke of the ASX and this persistent querying as to our capabilities – and let’s remember that their first round of questions were about our experience in trading platforms and what we know about clearing and settlement systems, and that’s on the public record – if the ASX wasn’t trying to basically crush us with this endless series of queries I think we’d be doing a lot better.
And if you have time watch the documentary on Enron.
https://www.intelligentinvestor.com.au/investment-news/is-isignthis-out-for-revenge/147666
