(10 Sep 2013, 4:32 pm)eezypeazy wrote Because it's only a mechanism for dividing up revenue from a multi-modal, multi-operator ticketing scheme by market share... nothing more, nothing less...

What's difficult to understand about that?

If I'm honest I struggle with the lack of transparency of the scheme. There are no public details provided on the website after all. I have managed to get a copy and taken a look at the latest statement of capital that companies house have, and along with the information you've provided (thanks), I have a greater insight of how the scheme works. Although it seems to be a massively fronted scheme for what appears to be simple model.

One thing I'd love to see is the mathematical formula of how the market share is calculated. I now understand that the scheme administrator calculates this, but how can the PTE have 37.33% of the market compared to GNE's 34.04%? Metro + Ferry has been mentioned, but does this really equate to more than the market share GNE has in Tyne and Wear? I'd be surprised if it did. So it makes me ask what else is included? Are Nexus including secured, works, and scholars services that they contract out to the likes of GNE as their own market?

Another thing to consider now that we're becoming dependant on the smart card world, and with NESTI. You can (generally) get from A to B in one trip using the Metro or Ferry. With the way GNE's network comes across as working (correct me if I'm wrong) in a hub and spoke model, you've generally got to travel from A to B via a change at C. It's been asked before, but is this 2 trips as oppose to 1? Would this affect the data used for calculating market share?