N represents a nucleosome with fully wrapped DNA; N–X the complex in which DNA has partially unwrapped, allowing protein X to occupy its site (defined as the outer more of the two target sites); in N–Y the DNA has unwrapped even further, allowing binding by Y. N–X and N–Y convert to the doubly occupied complex N–XY by subsequent binding of Y or X, respectively. The results of the present study imply that, while all states of the system can in principle exist, given comparable concentrations and binding affinities (to naked DNA) for proteins X and Y, the actual flux of the system is dominated by the upper path.