Formal title: Improving efficiency and clarity of the Trading Disputes process
The Proposed solution seeks to introduce changes that will improve the clarity and efficiency of the Trading Disputes process by:
- giving the TDC the power to make decisions on rectification methods for Post Final Settlement Runs (PFSRs), Extra Settlement Determinations (ESDs) and decisions not to rectify, while also introducing the abilities for Parties to refer such decisions to the Panel;
- allowing the TDC to amend the End Date of a Trading Query/Dispute when specified on the Raising Form but the error extends beyond that date;
- changing the SVA HH query deadline from Second Reconciliation (R2) Run + 20 Working Days (WDs) to align with the SVA NHH query deadline of the Final Reconciliation Run (RF) + 70 WDs;
- removing the concept of Precautionary Trading Queries; and
- increasing the clarity of the definition of ‘settlement error’.
At its meeting on 12 August the BSC Panel recommended that P256 should be made with an Implementation date of 4 November 2010 if a decision if made on or before 24 September 2010 or the next available Release if a decision is received after.
On 20 September, the Authority approved the Proposed Modification and was implemented as part of the November 2010 Release.
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