Operational Procedures
The attached document outlines the Austraclear settlement transaction processes including interaction between the Participant's bank and the Reserve bank. It also clarifies Participant obligations in relation to settlement transactions, we well as the actions that the IMO will take if the Participant fails to meet these obligations.
Operations Contingency Procedure [120kB]
The Market Operations Contingency Procedures have been finalised and were issued to Market Participants prior to the Market start date of 21/9/06. These procedures described the steps that will be taken by the IMO should circumstances prevent the normal operation of the WEM. They include events that will result in suspension of the Short Term Energy Market, as well as what actions the IMO will take to assist participants if they are having difficult submitting information to the IMO.
The IMO is committed to the involvement of Participants in changes to, and in the future development of, the WEM IT systems. Participant involvement will develop as the market matures. This initial procedure aims to keep participants informed of, and to coordinate the release of, changes with the aim of having minimal disruption to the market.