Market entry flow diagram: Non Physical Trader

This diagram  will enable you to walk through the Market Entry requirements step by step in the process of registering as a Non Physical Trader.

Join the BSC

Join the BSC

Sign the BSC Agreement

Sign the BSC Agreement

The first stage of the Market Entry process is to become a BSC Party. This is done by signing the BSC Accession Agreement, which is a contract between ELEXON and the applicant. On signing the Accession Agreement the applicant is agreeing to abide by the rules and obligations set out within the BSC.

Applicants must also pay a one off £500 Accession Fee and be aware that on becoming a BSC Party all parties start paying the monthly membership fees of £250+VAT.

Section A of the BSC lists the requirements you will need to fulfil to become a BSC Party.

​What do I need to do?

  1. Complete and sign two original copies of the BSC Accession Agreement. The agreements should be signed by the registered company director but not dated. Once we receive the agreements we will date and countersign them before returning one back to you.

    ​Send the signed agreements to:

    Market Entry
    Customer Operations
    Elexon Limited
    4th Floor
    350 Euston Road
    London
    NW1 3AW

  2. Complete the Accession Form and send to Market Entry (market.entry@elexon.co.uk). This is to provide us with the details required to support you through the Market Entry process.
  3. ​Send the £500 Accession Fee – This can be paid by Cheque, BACS or CHAPS.

    BACS/CHAPS payments can be made using ELEXON’s details as follows:

    Account Name: ELEXON Ltd
    Account Number: 60115819
    Sort Code: 20-00-00
    Bank: Barclays Bank Plc
    Branch: 1 Churchill Place, London, E14 5HP

    Please note that the above bank account is for ELEXON charges only and is separate to the two bank accounts used by the Funds Administration Agent (FAA) for Trading Charges and Credit Cover.

    For more information on ELEXON charges please see the BSC Costs & Charges webpage.

Order Communication Line

Order Communication Line

As a Party operating within the BSC arrangements you will need to be able to send and receive communications to and from ELEXON and the BSC Agent systems.

​Some communications are manual (via fax, post and email) but most are sent via electronic data flows. The electronic data flows are sent and received via 2 communication methods, the High Grade Service and the Low Grade Service.

​The High Grade Service

This provides access to all services and data through private network communication. For the BMRA service, the High Grade Services provides the capability for 24 hours a day, 7 days a week near real time information to be ‘pushed’ to the service users.

Users of the High Grade service can access this data either through browser screens (using Service Provider supplied applets to refresh the screens on receipt of updates), or through a defined programmatic interface (using Tibco software) (BMRS data only).

The Low Grade Service

This provides access to all services and data through the public internet, with consequently no guarantees on access times or availability.

The Low Grade Service provides access to BMRA data through a browser, but without the automatic refresh, the users are responsible for ‘pulling’ the data for screen based access and file downloads.

​How much does it cost and how long does it take to order?

The Low Grade Service is free of charge for all Parties and takes ELEXON around 5WDs to process your request. For more information on what is required please look at the Communications Requirement Document.

​The charges for the High Grade Service depend on the type of line you require and whether you require a disaster recovery line and TIBCO Software.

The current charges can be found within the Schedule of specified communications charges.

High Grade Lines in the UK take around 60WDs to install from the point of order, the time taken to install HG lines in Europe is dependent on the exact location and can be discussed at the point of order.

What do I need to do?

Place a Communication Line Request. Once you have decided which service you require you will need to place an order with ELEXON. Follow either the Low Grade or High Grade order process within this diagram.

For a more detailed view of setting up communication lines, please refer to the Communication Line process diagram.

Set up Authorised People

Set up Authorised People

Authorised Persons need to be created to ensure that we are aware of who within your company is authorised to carry out specific BSC activities. Further information regarding Authorised Persons and the different levels of authorisations can be found in BSCP38.

What do I need to do?

Submit a letter from a company director nominating an initial category A authorised person . The letter must be on a company stationery.

Submit a BSCP38/5.1 Form and the letter to Market Entry (market.entry@elexon.co.uk). Both part A and C must be completed by the person nominated within the director’s letter. For each additional person being authorised you will need to complete part C.

Book CVA Qualification Test

Book CVA Qualification Test

All BSC Parties must demonstrate their ability to communicate with BSC central systems and comply with the requirements in Section O of the BSC by completing CVA Qualification Testing as part of the market entry process. For more information on CVA Qualification testing please refer to the links below:

What do I need to do?

You will also need to refer to the CVA Qualification Checklist within BSCP70 to ensure you are prepared for testing and have the necessary validation software and business systems in place before arranging a test date.

Once youre ready to carry out testing please complete the relevant test booking forms in BSCP70 and submit to Market Entry (market.entry@elexon.co.uk) along with a date you would like the testing to take place (10 WD lead time).

N.B You are able to opt out of testing some or all of the required data flows and will need to specify this within the BSCP70 form, choosing to opt out of testing all or some of the data flows is done at the Party’s own risk. If you are qualifying as an ECVNA or MVRNA then testing is mandatory.

For a more detailed view of setting up communication lines, please refer to the CVA Qualification Testing diagram.

Lodge Credit Cover (optional)

Lodge Credit Cover (optional)

Trading Charge payments are made to or by Parties 29 days after a Settlement Day. Credit Cover ensures that ELEXON has enough collateral from you to cover these payments if you cannot make them.

For further information on Credit Cover please refer to the Credit Cover Guidance Document. If you have any queries regarding Credit Cover please email them to Credit Default (credit-default@elexon.co.uk).

​What do I need to do?

To lodge Cash Credit cover:

You will need to provide the credit cover to the Funds Administration Agent (FAA) which will be held in the reserve account:

Barclays Bank Plc.
Sort Code: 20-00-00
Beneficiary Account Name: Elexon Clear Limited. Reserve Account
Beneficiary Account Number: 00256269
IBAN: IBAN GB96 BARC 2000 0000 2562 69

​Please email the FAA via the BSC Service Desk (bscservicedesk@cgi.com) prior to lodging credit.

​Please note that the above bank account is for lodging Credit Cover only and is separate to the two bank accounts used to pay BSC Charges and Trading Charges.

​To provide Credit Cover by a letter of credit:

​The templates that can be used to form the letter of credit can be found in Annex M-1, M-2 & M-3 of the BSC. The letter of credit must be issued from a Bank with a credit rating of ‘A’ or greater and must be valid for a minimum of 3 months.

​Once the letter has been drafted please provide a copy to the FAA at:

Martin Wiles/Clarice Labiano
Keats House
The Office Park
Springfield Drive
Leatherhead
Surrey
KT22 7LP

Submit Funds Accession Details

Submit Funds Accession Details

The Funds Administration Agent (FAA) manage the funds transfer between ELEXON and BSC Parties for any Trading Charges owed to or by BSC Parties during the balancing & Settlement of the market.

The FAA will require some company financial details from you to ensure they are ready to be able to invoice you for any trading charges owed or payable after go-live.

​Please note that the FAA bank account from which you receive / to which you pay Trading Charges is separate to the two bank accounts in to which you pay BSC Charges and lodge Credit Cover.

​What do I need to do?

​Submit a BSCP301/04(a) to Market Entry (market.entry@elexon.co.uk). This shlould be done at least 10WD before you intend to register in Central Systems.

​For further guidance on the Funds Accession Form please see our Funds Accession Guidance Note.

Submit Operational Contacts

Submit Operational Contacts

Before completing the market entry process all new parties are required to provide ELEXON with two out of hours contacts in case an urgent issue arises out of normal working hours (e.g., Credit cover breaches etc).

​What do I need to do?

Provide two contacts. Please complete the Operational contact spreadsheet.

​Submit by email to Market Entry (market.entry@elexon.co.uk) at least 3WDs prior to registering in Central Systems.

Register Party Role

Register Party Role

Before you can start trading you will need to register your Parties details within BSC Central Systems.

​The registration process can be found in detail within BSCP65.

​What do I need to do?

Complete a BSCP65/01 and submit it to Markey Entry (market.entry@elexon.co.uk) at least 3WDs prior to the party registration date.

Register Party Agent Role (optional)

Register Party Agent Role (optional)

Before you can start operating as a CVA Party Agent you will need to register your CVA Party Agent details within BSC Central Systems.

​The registration process can be found in detail within BSCP71.

​What do I need to do?

Complete a BSCP71/05 and submit it to Market Entry (market.entry@elexon.co.uk) at least 3WDs prior to the Party Agent registration date.

N.B. You will need have completed the Party Agent Qualaification Testing before you can register a Party Agent role.

Go Live

Go Live

My ELEXON

Click on the X next to any of the icons to replace them with a short-cut link to the page you are currently on or search for a specific page.

ELEXON insights

ELEXON Circulars

Training services delivered by ELEXON

Market Entry

Charge Codes and Switch Regimes

Add New

×

Or