The Market Rules consist of the latest approved Trading and Settlement Code, Agreed Procedures and any approved Modifications which have not yet been incorporated into the main body of the Code or the Agreed Procedures.
Codes and procedures
Click below to see full links to each part of the Trading and Settlement Code and Agreed Procedures. An Archive section contains links to Part A & Part C historic documents for reference as these have ceased to be effective since 2023. Part B came into effect in parallel with Part A since the launch of I-SEM, 2018 and since 2023 is the only enduring Trading and Settlement Code, as linked below; therefore the Part B references are no longer utilised. For any queries please email the Secretariat at balancingmodifications@sem-o.com.
- AP01: Registration
- AP03: Communication Channel Qualification
- AP04: Transaction Submission and Validation
- AP05: Data Storage and IT Security
- AP06: Data Publication and Data Reporting
- AP07: Emergency Communications
- AP09: Management of Credit Cover and Credit Default
- AP10: Settlement Reallocation
- AP11: Market System Operation Testing Upgrading and Support
- AP12: Modifications Committee Operation
- AP13: Settlement Queries
- AP14: Disputes
- AP15: Settlement and Billing
- AP16: Provision of Meter Data
- AP17: Banking and Participant Payments
- AP18: Suspension and Termination
Trading & Settlement Code Part A
- SEM Trading & Settlement Code Part A
- SEM Trading and Settlement Code Part A Glossary
- SEM Trading and Settlement Code Part A Appendices
- SEM Trading & Settlement Code Part A Marked Up
- SEM Trading and Settlement Code Part A Appendices Marked Up
- SEM Trading and Settlement Code Part A Glossary Marked Up
Agreed Procedures Part A
- AP01: Participant and Unit Registration and Deregistration
- AP02: Interconnector User Capacity Right Calculation and Dispatch Notification
- AP03: Communication Channel Qualification
- AP04: Transaction Submission and Validation
- AP05: Data Storage and IT Security
- AP06: Data Publication and Data Reporting
- AP07: Emergency Communications
- AP09: Management of Credit Cover and Credit Default
- AP10: Settlement Reallocation
- AP11: Market System Operation, Testing, Upgrading and Support
- AP12: Modifications Committee Operation
- AP13: Query Generation
- AP14: Disputes
- AP15: Invoicing
- AP16: Provision of Metered Data
- AP17: Banking and Participant Payments
Trading & Settlement Code Part C
Proposals in effect on the baseline
It is important to note that a Modification may become effective before the published draft of the Code is amended to include the Modification. Please see Modification Proposals currently in effect on the baseline below.
| Mod ID | Title | Mod Status | Stage | Section Affected | Effective Date | Publication Date |
|---|---|---|---|---|---|---|