First, a quick historical comparison for context. Back in 2013, the RIPE NCC had around 9,000 LIRs, and we processed a mere 150 policy transfers in the whole year, i.e. approximately 12-13 transfer requests a month. We currently have about 23,700 LIRs, which is 2.5x the LIRs in 2013. Last month, we processed over 400 policy transfers. This is 30x the number of transfer requests we processed when you were part of the Registry Services team.