SCR #778 · Revision Request
SCR778 Credit Exposure Calculations for NOIE Options Linked to RTM PTP Obligations
ReasonTo more closely align calculated credit exposure with Real-Time Market (RTM) Settlement risk and with the intent of existing Protocol language.
Created2013-12-19
Approved2014-02-11
Sections Affected
16.11.4.3
Summary
Changes to the Credit Monitoring and Management (CMM) System. 1. Modifies the Real-Time Liability (RTL) calculation to reduce credit exposure to an estimated amount based on calculations defined in paragraph (1) of Protocol Section 7.9.2.1, Payments and Charges for PTP Obligations Settled in Real-Time. 2. Modifies the Outstanding Unpaid Transactions (OUT) calculation to include credit exposure to an estimated amount based on calculations defined in paragraphs (3) and (4) of Protocol Section 4.6.3, Settlement for PTP Obligations Bought in DAM.
Timeline
- Nov 15 '13
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Dec 19 '13
PRS Protocol Revision Subcommittee (PRS) MeetingPRSRecommended for Approval Recommended for approval“To recommend approval of SCR778 as submitted.” — Passed→ PRS for IA review
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Jan 16 '14
PRS PRS MeetingPRSRecommended for Approval Recommended for approval Forwarded → TAC priority 2014 · rank 1120“To endorse and forward the 12/19/13 PRS report and Impact Analysis for SCR778 to TAC with a recommended priority of 2014 and a rank of 1120.” — Passed→ TAC for consideration
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Jan 28 '14
TAC TAC MeetingTACRecommended for Approval Recommended for approval“To recommend approval of SCR778 as recommended by PRS in the 1/16/14 PRS Report” — Passed→ Board for consideration
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Feb 11 '14
BOARD Board of Directors MeetingBOARDApproved Recommended for approval“To approve SCR778 as recommended by TAC in the 1/28/14 TAC Report.” — Passed
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Posted since the last meeting