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Committees & Groups

Issue Details

Financial Risk Mitigation

The Financial Risk Mitigation Senior Task Force (FRMSTF) will evaluate the recommendations in the Report of the Independent Consultants on the GreenHat Default related to Market rules updates, Credit and risk management rules updates, Membership qualifications and processes updates, and Stakeholder process changes. The FRMSTF reports to the Markets and Reliability Committee (MRC).

Issue Details

Strategic Focus Area: Markets
Issue Status: Solution Alternatives Proposed
Stakeholder Body: Financial Risk Mitigation Senior Task Force
Stakeholder Process Status: Packages
Issue Catalyst: PJM / Greenhat default
Date Created: 4.25.2019
MC Approval Date:
Target Completion Date: 12.31.2019
Actual Completion Date:
FERC Filing(s): Yes
Agreement Change(s): Open Access Transmission Tariff, Operating Agreement
Manual Change(s): No
MC Annual Plan: 2019
Date Documents
9.5.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Item 3 - Publication Schedule  PDF
Item 4 - Events & Market Participant Termination  PDF
Item 5 - Establishing Financial Criteria Assessment & Credit Policy Enhancements for FTR Market Participation  PDF
Item 6 - IMM Auction Value - DA Difference  PDF
Item 7 - Markets Track Options Matrix with Stakeholder Alternatives  XLS
6.6.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Item 1 - Draft Minutes - FRMSTF - 5.13.2019  PDF
Item 3 - Draft FRMSTF Publication Schedule  PDF
Item 5 - Additional Financial Transmission Rights Education  PDF
Item 5 - Informational Only - Comparison of Congestion Hedging Markets and Auction Revenue Allocations  XLS
Item 6 - IMM Financial Transmission Rights - Presentation  PDF
Item 7 - PJM Schedule 9 Stated Rates - Overview  PDF
Item 8 - ISO/RTO Credit Comparison  PDF
Item 9 - Framing Questions - Stakeholder Feedback with Survey Responses  PDF
Item 9 - Summary of Stakeholder Responses to Framing Questions  PDF
Stakeholder Feedback - Rankings of Work Streams  PDF
8.14.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Agenda  DOC
Item 1 - Draft Minutes - FRMSTF - 7.17.2019  PDF
Item 4 - Work Plan  PDF
Item 5 - Due Diligence & Assessment Criteria Process - Position Paper  PDF
Item 5 - Due Diligence & Assessment Criteria Process - Presentation  PDF
Item 6 - PJM Authorities & Discretion to Deny or Revoke Trading Rights  PDF
Item 7 - Stakeholder Process Changes (Governance) - Options Packages Matrix - Updated  XLS
Item 8A - Markets Track Options Matrix  XLS
Item 8B - Vitol - Rolling FTR Auction  PDF
Publication Schedule  PDF
5.13.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Agenda  DOC
Item 2 - Work Plan  PDF
Item 3 - Stakeholder Process Participation Education  PDF
Item 4 - Observations on the Report of the Independent Consultants on the GreenHat Default Recommendations  PDF
Financial Risk Mitigation Principles and Framing Questions  PDF
9.23.2019 Meeting materials from the MC Webinar meeting
Item 7G - FRMSTF Report  PDF
9.25.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Agenda  DOC
Item 6 - External Clearing for PJM FTR Market  PDF
Item 6 - External Clearing Implications, Benefits & Challenges  PDF
Item 7 - Results of Risk Model Quantitative Analysis  PDF
Item 7 - Results of Risk Model Quantitative Analysis - Presentation  PDF
9.27.2019 Meeting materials from the MEPETF meeting
Agenda  PDF
7.17.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Agenda  DOC
Informational Only - California Independent System Operator Corporation Reduction in Biddable Points - June 2018 FERC Order ER18-1344  PDF
Item 1 - Draft Minutes - FRMSTF - 6.25.2019  PDF
Item 2 - Work Plan  PDF
Item 3 - Nodal Exchange Futures Clearing 101  PDF
Item 4 - Initial Margin Methodology - Desktop Review  PDF
Item 5 - Discussion Paper - Position Limits & Liquidity Risk  PDF
Item 6 - Discussion Paper - Variation Margin & Settlement  PDF
Item 7 - Stakeholder Process Changes (Governance) - Options Packages Matrix  XLS
Item 8A - PJM Financial Transmission Rights Product Range & Auction Process  PDF
Item 8B - Energy Trading Institute - Financial Transmission Rights Presentation  PDF
Item 8C - CAISO Case Study  PDF
Item 8D - Basic Congestion Discussion  PDF
Item 8D - IMM vs PJM Offset Table  PDF
6.24.2019 Meeting materials from the MC Webinar meeting
Item 6G - FRMSTF Report  PDF
10.18.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Agenda  DOC
Item 1 - Draft Minutes - FRMSTF - 9.24.2019 & 9.25.2019  PDF
Item 2 - Publication Schedule  PDF
Item 2 - Voting Timeline  PDF
Item 2 - Work Plan  PDF
Item 3 - Financial Transmission Rights Underfunding Review  PDF
Item 4 - Financial Transmission Rights Product Range & Auction Process - Operating Agreement Redlines  PDF
Item 5 - Credit Analysis Overview  PDF
Item 6 - Credit & Collateral Best Practices  PDF
8.19.2019 Meeting materials from the MC Webinar meeting
Item 6G - FRMSTF Report  PDF
6.25.2019 Meeting materials from the FRMSTF meeting
Agenda  PDF
Item 1 - Draft Minutes - FRMSTF - 6.6.2019  PDF
Item 2 - FRMSTF Publication Schedule  PDF
Item 3 - Rankings of All the Work Streams  PDF
Item 4 - Work Plan  PDF
Item 5 - Load Serving Entities Perspectives on ARR FTR Market Design  PDF
Item 6 - IMM ARR/FTR Market Design Addressing Risk  PDF
Item 6 - IMM Reducing Risk Current ARR/FTR Market Design  PDF
Item 7A - Framing Questions - Stakeholder Feedback with Survey Responses - Re-poll  PDF
Item 7B - Framing Questions - Stakeholder Feedback with Survey Responses - Re-poll  PDF
Item 8 - ISO RTO Long-Term Requirements  PDF
Item 9 - FTR Performance Improvement Analysis  PDF
Item 10A - Discussion Paper Enduring Governance of PJM's Financial Markets  PDF
Item 10B - Position Paper FTR Central Counterparty  PDF
9.24.2019 Meeting materials from the FRMSTF meeting
Agenda  DOC
Item 1 - Draft Minutes - FRMSTF - 9.5.2019  PDF
Item 3 - Charter - Redline  PDF
Item 3 - Voting Timeline  PDF
Item 3 - Work Plan  PDF
Item 4 - Voting Results - FTR Product Range & Auction Process  PDF
Item 5 - FTR Clearing (eFTR's) Proposal  PDF
Item 5 - Nodal Data Services Offering  PDF
9.26.2019 Meeting materials from the MRC meeting
Agenda  PDF
Agenda  DOC
Item 2 - FRMSTF Charter - Revision  PDF
Date Type Documents
There are no governing documents currently associated with this issue