Glossary Term: Spot Time
Many input variables and calculated values are given for spot times within the Code. Spot times are an instant in time, and have no duration.
For example, Settlement Period j starts at the spot time occurring at the beginning of the half hour and ends at the spot time occurring exactly thirty minutes later. The spot time at the beginning of one period therefore coincides with the spot time at the end of the previous period. For the avoidance of doubt the first Settlement Period of a Settlement Day begins at the spot time 00:00 on the current Settlement Day (D), and ends at the spot time of 00:30 for the current Settlement Day D.