Legacy SEM Cash Collateral Accounts
Dear Market Participant,
As part of Legacy SEM decommissioning, please see the following steps that will occur regarding Cash Collateral Accounts:
1. Funds held in Cash collateral accounts that are in place for Legacy SEM only will be automatically refunded to Participant bank accounts held on file for Legacy SEM. The date of when this refund will be processed will be communicated in the coming weeks.
2. Where there is an Interim Transfer Facility (ITF) in place, the following will occur. The account will be closed and the remaining balance, including any interest if applicable be it negative or positive this will be then transferred to the Current SEM Collateral accounts held by you.
Please do not hesitate to contact us at email@example.com should you have any questions.