New Error and Failure Resolution approach for Risk 9 from January 2022
From January 2022 a new Error and Failure Resolution approach for Risk 9 will be initiated.
How it relates to you
Where a candidate is identified, a decision will be made at the next monthly PAB meeting about whether the candidate should be placed subject to EFR.
To help Market Participants improve their compliance, the PAB has agreed the following EFR approach for this risk:
- A DA which has two or more material incidents within a rolling six month period will be considered a candidate for EFR
- An incident will be considered material where it has introduced any error at any Settlement Run.
Why has this changed?
The Performance Assurance Board (PAB) are concerned about an increase in the number of missing or late DA submissions (D0040/D0041/D0298 files) which have resulted in the Supplier Volume Allocation Agent (SVAA) using default data in the Volume Allocation Run.