Market Reassurance

If trading parties make a material change to their capabilities, reassurance may be required.

Market reassurance is the process in which trading parties who have undergone material changes in capability, provide assurance to MOSL that these changes do not impact their ability to uphold their market obligations. The process is similar to that of Market Entry Assurance (MEA), but it may not be necessary for applicants to complete all the steps.

Market Reassurance Information Return

The Market Reassurance Information Return (MRIR) is the equivalent of the Applicant Information Return (AIR) completed as part of Market Entry Assurance (MEA). It asks trading parties to set out what the material changes are, how they affect their market obligations, and what further aspects of reassurance they will need to complete. In approving this submission, MOSL accepts the proposed scope of reassurance. Trading parties who completed the enhanced MEA process are expected to complete enhanced reassurance, except in exceptional circumstances. Trading parties who completed self-certification MEA can determine the most appropriate route, depending on the changes made.

Market Reassurance plan

Once applicants have had their MRIR approved, they can submit a Market Reassurance plan, setting out when they will complete the remaining reassurance activities.

Market and Interface training

Where trading parties require market and interface training, the process will be the same as for MEA. Applicants must complete market training before attending the interface ‘classroom-style’ training. Depending on the number of companies progressing through MEA or reassurance at any one time, trading parties completing reassurance may attend training with MEA applicants.

Market and Interface Training is made up of two stages. The first, Market Training, is designed to provide applicants with an overview of the market, including codes and subsidiary documents, the market framework, market entry assurance, and settlement. The second, Interface training, is ‘classroom-style’ and provides applicants with direct training on how to use the CMOS Portal (or Low Volume Interface (LVI)). All applicants must attend both stages of training, but it is particularly beneficiary for applicants who plan to only or mostly use the LVI.

Market Training

Market training is made up of these training slides. Applicants must review the slides before attending Interface Training.

Interface Training

Dates for interface training are confirmed on agreement of an applicant’s MEAP. For the subjects covered in Interface Training, please see the attachments below. MOSL runs two types of Interface training, aimed at both wholesalers and retailers. While a lot of the content is transferable, the sessions are targeted specifically to either wholesalers or retailers to provide the best view of the transactions applicants are likely to use in the market. As such, it is important that applicants who are entering as both a wholesaler and a retailer attend both sets of training.

Interface training will take up to two days, and will be based either in London or Reading, depending on the availability of trainers. MOSL will confirm the location when confirming the dates.

Click to view the Interface training content outline for wholesalers or the Interface training content outline for retailers.

Self-Certification declaration

The Self-Certification Declaration as part of the market reassurance process is similar to that in the MEA process. It requests trading parties provide assurance that their material changes do not affect the company’s ability to uphold their market obligations, and that they have the continued capability to operate in the market. Trading parties are required only to provide assurance on the statements affected by the material changes but can provide assurance on additional statements if they so wish. Trading parties are also required to provide a third-party report at this stage, which should provide assurance on the approach it has taken, and on the outcomes of the assurance. The report may also provide assurance on risks identified by the applicant or on specific assurance statements.

Business Solution Assessment

The Business Solution Assessment (BSA) is designed for enhanced trading parties to provide assurance that the material changes do not impact their ability to meet market obligations. The BSA asks applicants to set out the approach they’ve taken in gaining this assurance, provide the assurance activities being undertaken and key findings for each applicable statement. Trading parties are only to provide assurance on each of the specific statements affected by the material change(s). Trading parties may need to provide a third party report that provides support of the approach to assurance, and confidence in the outcomes of the assurance, depending on the scope of the changes to be made.

Market reassurance testing

Market re-assurance testing follows the same process as Market Entry Assurance Testing (MEAT). Trading parties are required to complete Interface and Data Transaction Testing (IDTT), but are only required to complete Market Scenario Testing (MST) for those scenarios with transactions that are affected by their material change(s). Trading parties should submit a Market Reassurance Test Plan and Market Reassurance Test Script pro-forma at least 10 business days before the testing start date agreed upon in the Market Reassurance Plan. Once Trading parties have completed Market reassurance testing, they should submit a Systems Declaration confirming the systems that were tested will be used in the market.


Keep up to date

Receive the most relevant and up-to-date communications from MOSL by signing up to our mailing list.