As others have said, it goes from one point to another. Here are some explanations from manufacturers.
* Mistubish's info shows that the branching units really just split out pairs from the shielding, ie they always go from one point to a single other point. Photos and specs: <
* Nokia (formerly Alcatel-Lucent) underwater says can go 500 km without powered electronics (repeaters); branching units are powered or unpowered; cables have typically 8 pairs. <
* TE conference talk report covers end to end with good photos and some technical data <