James Faucette : Got it. And then I just want to drill down a little bit more on the UBS, Crédit Suisse situation, particularly as it relates to any updates that you might have for us around ACV. I think previously, you’ve been targeting around $100 million or so once we have go live in the first quarter of fiscal ’24, do you still expect that quarterly run rate to be in that same range? And I guess, I know there’s a lot of moving pieces over there right now. But when — I guess based on previous experience, how long should we expect before you can get a more concrete or clear view on where that should end up and where the opportunities may or may not lie?
Edmund Reese : So let me start, James, and Tim might jump in here. As we just said in the prepared remarks, we are now complete with the development and the testing of it and still on track to go live in this calendar year and start to recognize revenue in fiscal — in our first quarter fiscal ’24. And when we finalize that rollout plan with them, we’ll share more specifics on the economics of it. As we said before, we’ll recognize that revenue in fiscal ’24 in the first quarter of that. It will be dilutive to us. As Tim just said, we have a very strong pipeline. We’ll be able to bring on more sales that are at very accretive margins to us to help us get back to the returns that we’ve historically seen in our rollout. And so that’s what we’re focused on now, and we’ll share more as we finalize the plans with UBS.
Tim Gokey: Yes. I think the only thing I’d add to that is just qualitatively, as UBS has shifted to this more agile modular approach where they are implementing in phases, when the revenue comes on, it will be less than that $100 million number and not dramatically, but it will be less and but also the investment in the amortization will be less, and we’ll be able to lay that out when we can.
Operator: The next question is from Puneet Jain of JPMorgan.
Puneet Jain : I just had like a question on closed sales, like the lowered expectations for this year. Like is that something you would attribute to a weak macro? Like are you seeing any, like the clients delaying decision-making like in your pipeline?
Tim Gokey: Sure. Sure, Puneet. I think that — I think part of the good news is that our clients are continuing to prioritize their technology spend. And I think they view — in many cases, they view that as table stakes to continue to drive their business forward. And so it’s interesting that we haven’t really seen any decline in the volume of conversations. And so that’s what makes us believe that this is more of a timing issue. Is it weak macro? Is it just the number of other moving parts that they have? It’s hard for us to untangle those. But it’s — what we’re heartened by is that the conversations continue to be very positive.
Puneet Jain : Got it. And then on the Q4 guidance, the implied guidance for Q4, what should we expect for contribution from internal growth, like the trade volume, record growth versus new sales contribution?
