Service Description: Funds Administration Agent (FAA)

This Service Description sets out the responsibilities and obligations of the Fund Administration Agent (FAA) and supplements the Service Requirement for Funds Administration.

This Service Description sets out the responsibilities and obligations of the Fund Administration Agent (FAA) and supplements the Service Requirement for Funds Administration.

The FAA manages the funds transfer between ELEXON Clear Limited and BSC Trading Parties for Trading Charges. The FAA also manages the Credit Cover arrangements to ensure that BSC Parties have enough cover when trading within the market. The FAA maintains a Payment Calendar that defines when payments are due for each Settlement Day.