Incorrect FX rate applied in Settlement Documents published on Monday 9th May 2022
Affected Period
Status
Closed
Category
Settlements
Run type
N/A
Created
12/05/2022 13:38
Last Updated
12/05/2022 13:45
Dear Market Participant,
As per the update provided today, on this week's market participant call, due to a process event timing error identified on the morning of May 9th, the incorrect FX rate of 0.8558 was used in Settlement Documents published on May 9th. The correct rate of 0.8545 should have been used. The issue identified has been documented and will be corrected for future dates where Settlement Document publication is on a Monday, as opposed to a Friday.
The outcome, of a materiality assessment completed by SEMO between the incorrect and correct FX rates, is that there will be no resettlement carried out due to the low level of materiality of the issue.
Apologies for any inconvenience caused by this issue, please contact info@sem-o.com if you have any further queries or questions.
Kind regards,
SEMO Settlements