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).

Proposed Timeline

Issue initiated: 4.25.2019
Work begins: 5.2.2019
Target Completion: 12.31.2021
Actual Completion: 9.15.2021

Issue Details

Stakeholder Body Financial Risk Mitigation Senior Task Force
Facilitator Patel, Anita
Subject Matter Expert Endress, Eric
MRC Approval Date 9.29.2021
MC Approval Date 10.20.2021
Problem Statement/
Issue Charge First Read 		3.21.2019
Issue Catalyst PJM / Report of the Independent Consultants on the GreenHat Default
Issue Status Closed
Manual Changes Yes
Agreement Changes Open Access Transmission Tariff, Operating Agreement

  • Stakeholder Process Step

  • Completed Approved
  • Completed Education
  • Completed Interest
  • Completed Design
  • Completed Options
  • Completed Packages
  • Completed Consensus
  • Completed Review
  • Completed Completed
 11.17.2021 - MC
 6.21.2021 - MC Information Webinar
 4.19.2021 - MC Information Webinar
 3.22.2021 - MC Information Webinar
 2.22.2021 - MC Information Webinar
 10.15.2020 - FRMSTF
 9.29.2020 - FRMSTF
 9.17.2020 - MRC
 9.10.2020 - FRMSTF
 8.26.2020 - FRMSTF
 7.21.2020 - FRMSTF
 6.24.2020 - FRMSTF
 5.27.2020 - FRMSTF
 5.11.2020 - FRMSTF
 5.4.2020 - MC
 4.23.2020 - FRMSTF
 3.30.2020 - FRMSTF
 3.26.2020 - MC
 3.26.2020 - MRC
Agenda  PDF
Consent Agenda A - Draft Minutes - MRC - 2.20.2020  PDF
Item 2 - Credit Rating & Internal Credit Score - PSEG Friendly Amendment  PDF
Item 2 - Definition of Market Participant - Friendly Amendment  PDF
Item 2 - Risk Management - PSEG Friendly Amendment  PDF
Item 2 - Unsecured Credit Allowance - PSEG Friendly Amendment  PDF
Item 2 - Tariff Definitions  PDF
Item 2 - Operating Agreement Definitions  PDF
Item 2 - Tariff Attachment DD  PDF
Item 2 - OA & Tariff Markets Provisions  PDF
Item 2 - Operating Agreement Membership Provisions  PDF
Item 2 - Tariff Attachment Q  PDF
Item 2 - Credit Revisions Since Second Page Turn  PDF
Item 2 - Credit Revisions Since Second Page Turn - Operating Agreement, Section 1.4  PDF
Item 2 - Credit Revisions Since Second Page Turn - Operating Agreement, Section 1.5  PDF
Item 2 - Credit Revisions Since Second Page Turn - Operating Agreement, Section 11.6  PDF
Item 2 - Credit Revisions Since Second Page Turn - Tariff, Attachment Q  PDF
Item 2 - Principal - Elwood Energy Friendly Amendment  PDF
 3.13.2020 - MRC Special Session - Market Participant Risk Evaluation & Enhancement Page Turn
 2.26.2020 - MRC Special Session - Market Participant Risk Evaluation & Enhancement Page Turn
 2.20.2020 - MRC
 1.23.2020 - MC
 1.23.2020 - MRC
 1.13.2020 - FRMSTF
Agenda  PDF
Agenda  DOC
Comments - Bob O'Connell - Attachment DD 5.5 - Redline  PDF
Comments - Bob O'Connell - Operating Agreement Definitions - Redline  PDF
Comments - Bob O'Connell - Operating Agreement Schedule 1 - Section 1.4 - Redline  PDF
Comments - Bob O'Connell - Operating Agreement Section 11.6 - Membership Requirements - Redline  PDF
Comments - Bob O'Connell - Operating Agreement Section 15 - Redline  PDF
Comments - Bob O'Connell - Tariff Attachment Q  PDF
Comments - DC Energy - Risk Enhancements for FRMSTF  PDF
Comments - Exelon - Attachment Q Feedback  PDF
Comments - Financial Marketer Coalition on Proposed FRMSTF Tariff Language  PDF
Comments - H-P Energy Resources LLC - Tariff Revisions  PDF
Comments - PSEG - Attachment Q  PDF
Item 1 - Draft Minutes - FRMSTF - 12.17.2019  PDF
Item 2 - Tariff Attachment Q - Redline  PDF
Item 2 - OATT Attachment DD 4 - Redline  PDF
Item 2 - OATT Attachment DD 5.5 - Redline  PDF
Item 2 - OATT Attachment DD 5.6 - Redline  PDF
Item 2 - Operating Agreement Section 11.6 - Membership Requirements - Redline  PDF
Item 2 - Operating Schedule 1 - Section 1.4 - Redline  PDF
Item 2 - Comparison of Redline Changes from December 2019 to January 2020  PDF
Item 2 - Comparison of Attachment Q Redlines from December 2019 to January 2020  PDF
Item 2 - FRMSTF General Themes  PDF
Item 3 - Capitalization Consideration  PDF
Informational Only - Effects of Proposed Increases in Minimum Capital Requirements  PDF
 12.19.2019 - MRC
 12.17.2019 - FRMSTF
Agenda  PDF
Agenda  DOC
Item 1 - Draft Minutes - FRMSTF - 12.9.2019  PDF
Item 2 - Voting Timeline  PDF
Item 2 - Work Plan  PDF
Item 3 - Voting Results - Presentation  PDF
Item 3B - Tariff Attachment Q - Redline  PDF
Item 3B - Tariff Attachment Q - Redline  DOC
Item 3B - OATT Attachment DD - Redline  PDF
Item 3B - OATT Attachment DD 5.5 - Redline  PDF
Item 3B - OATT Attachment DD 5.5 - Redline  DOC
Item 3B - Attachment DD 5.6 - Redline  PDF
Item 3B - Attachment DD 5.6 - Redline  DOC
Item 3B - Definitions - Redline  PDF
Item 3B - Definitions - Redline  DOC
Item 3B - OA Section 15 - Redline  PDF
Item 3B - OA Section 15 - Redline  DOC
Item 3B - OA Schedule 1 Section 1.4 - Redline  DOC
Item 3B - OA Section 11.6 Membership Requirements - Redline  PDF
Item 3B - OA Section 11.6 Membership Requirements - Redline  DOC
 12.9.2019 - FRMSTF
 12.5.2019 - MRC
 12.2.2019 - MC Webinar
 11.21.2019 - FRMSTF
 11.7.2019 - FRMSTF
 10.31.2019 - MRC
 10.30.2019 - MC Webinar
 10.18.2019 - FRMSTF
 9.27.2019 - MEPETF
 9.26.2019 - MRC
 9.25.2019 - FRMSTF
 9.24.2019 - FRMSTF
 9.23.2019 - MC Webinar
 9.5.2019 - FRMSTF
 8.19.2019 - MC Webinar
 8.14.2019 - FRMSTF
 7.17.2019 - FRMSTF
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
 6.25.2019 - FRMSTF
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
 6.24.2019 - MC Webinar
 6.6.2019 - FRMSTF
 5.13.2019 - FRMSTF
View All
3.31.2020 -Filing-
Docket No. ER20-1451-000  PDF
5.29.2020 -Order-
Docket No. ER20-1451-000  PDF