Defect Affecting Difference Payments for the 24th of January

Affected Period

Status
Closed

Category
Customer Service

Run type
N/A

Created
07/02/2019 13:50

Last Updated
07/02/2019 13:52

Dear Market Participant,

As discussed on the 13:30 conference call today, there was a defect in our settlement systems which resulted in a miscalculation of the difference payments for 24th January.

 

These difference payments were outlined in the Settlement documents that issued on Tuesday 5th. We identified and investigated the issue following the issuing of the documents. We have engaged with our vendors to address this issue and it should be resolved in the production system early next week.

 

In the meantime we are in the process of recalculating the difference payments and will contact Participants directly to inform of the revised amount and issue a supporting invoice. We will endeavour to call all affected participants directly tomorrow the 8th of February 2019.

 

On foot of this, we will allow you additional time to process these payments, and will defer the deadline for processing of payments to Wednesday next week, the 13th February.

 

Please send any queries you have to info@sem-o.com and we will process them as quickly as we can, this will also be discussed further on the 09:30 call scheduled for tomorrow.

Kind regards,

SEMO Team