Title: Additional Minimum Counter-Party Qualification Requirements, Including Risk Management Capability Requirements
Next Group:
Next Step:
Status: Approved on 07/17/2012
Effective Dates:


Date Gov Body Action Taken Next Steps
07/17/2012 BOARD Approved
06/28/2012 TAC Recommended for Approval Board consideration
06/21/2012 PRS Recommended for Approval TAC consideration
05/17/2012 PRS Recommended for Approval PRS consider the IA
02/23/2012 PRS Deferred/Tabled PRS consideration

Voting Record

Date Gov Body Motion Result
07/17/2012 BOARD approved NPRR438 as recommended by TAC in the 6/28/12 TAC Report. Passed
06/28/2012 TAC To recommend approval of NPRR438 as recommended by PRS in the 6/21/12 PRS Report Passed
06/21/2012 PRS To endorse and forward the 5/17/12 PRS Report and Impact Analysis for NPRR438 to TAC. Passed
05/17/2012 PRS To recommend approval of NPRR438 as amended by the 4/30/12 Credit WG comments and as revised by PRS. Passed
02/23/2012 PRS To table NPRR438 and refer the issue to WMS. Passed

Vote tallies here reflect individual votes, not the weight of the votes by market segment. Affirmative votes are not recorded in these vote tallies. For additional details on the voting record, please consult the Recommendation or Action Report, or the official vote tally if available, as posted in the key documents.


Status: Approved
Date Posted: Jan 24, 2012
Sponsor: ERCOT
Urgent: No
Sections:,, 16.16, (new) 16.16.1, (new) 16.16.2, (new) 16.16.3, (new) Attachment J, (new)
Description: This Nodal Protocol Revision Request (NPRR) establishes minimum requirements for Counter-Parties to participate in the ERCOT markets. These requirements are in addition to other requirements currently defined in the Protocols. Specifically, Counter-Parties must certify that they: (1) Have appropriate expertise in markets; (2) Have appropriate market operational capabilities; (3) Meet minimum capitalization requirements; and (4) Have risk management capabilities with respect to operating in the ERCOT markets. In addition, this NPRR will require ERCOT to verify the risk management framework for specified Counter-Parties.
Reason: To reduce risk in the ERCOT market and to satisfy expected Commodities Exchange Act exemption requirements. These requirements will also make the ERCOT market more consistent with other Independent System Operator requirements.

Key Documents

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