Legacy SEM Cash Collateral Accounts
Affected Period
Status
Closed
Category
Customer Service
Run type
Created
21/05/2020 15:51
Last Updated
21/05/2020 15:55
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 info@semo-o.com should you have any
questions.
An FAQ document regarding the Legacy SEM decommissioning
period is available on the Legacy SEM website and SEMO website.
Kind regards,
SEMO