Force Majeure Consultation - March 2021
In March emsTradepoint undertook a consultation with market participants to evaluate options for making Participant Force Majeure(FM) available intra-day (OTD) on the exchange. The current FM arrangements are set out in the Force Majeure Guide 2020.
A total of 7 questions were posed in the consultation covering whether FM on the emsTradepoint exchange should align more closely with FM arrangements in traditional bilateral trading agreements. The paper explored options around how OTD FM could be implemented from an operational point of view. This included timing of an event, alignment with ID cycles, deemed flow and validity of FM events.
All responses were received by Friday 9 April 2021. We received 6 written response from Participants, and we conducted one phone call response.
The written responses are included below:
We have reviewed the responses. The summary of the responses and proposed next steps can be found below: