{"id":211933,"date":"2024-10-16T09:56:09","date_gmt":"2024-10-16T08:56:09","guid":{"rendered":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/?page_id=211933"},"modified":"2024-11-27T15:33:36","modified_gmt":"2024-11-27T15:33:36","slug":"becoming-virtual-trading-party","status":"publish","type":"page","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/market-entry\/becoming-virtual-trading-party\/","title":{"rendered":"Becoming a Virtual Trading Party"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"","protected":false},"author":351,"featured_media":0,"parent":1936,"menu_order":100,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false,"footnotes":""},"tags":[15956],"class_list":["post-211933","page","type-page","status-publish","hentry","tag-market-entry-by-role"],"acf":[],"semantic_search":{"post_id":211933,"title":"Becoming a Virtual Trading Party","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/market-entry\/becoming-virtual-trading-party\/","categories":[],"tags":["How to enter the market by role"],"content":"    <div class=\"panel-content\">\n        <p>This page lists and details the step-by-step process of becoming a Virtual Trading Party (VTP). You will also learn about what qualifications are needed, the relevant costs and charges and any other information you may need to know.<\/p>\n\n    <\/div>\n\n\n<div class=\"pagebuilder-blocks\"><div class=\"panel-content\">\n    <h2 id=\"what-is-a-virtual-trading-party\">What is a Virtual Trading Party?<\/h2>\n<p>VTPs are aggregators of Supplier Volume Allocation (SVA) registered Half Hourly Metering Systems for the purpose of allowing Wholesale Market access for the Independent Aggregator to trade a Customer&#x2019;s flexibility. A VTP can participate solely in Wholesale Market Activities.<\/p>\n<h2 id=\"qualifications-needed\">Qualifications needed<\/h2>\n<p>In order to qualify as a VTP you will need to obtain the following qualifications:<\/p>\n<ul>\n<li><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/reference\/market-entry\/cva-qualification\/\">CVA Qualification<\/a><\/li>\n<li><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/reference\/market-entry\/sva-qualification\/\">SVA Qualification<\/a><\/li>\n<\/ul>\n<p>The Central Volume Allocation (CVA) Qualification is needed to prove that VTPs have the ability to send certain communications to BSC Agents and ensure that certain communications are received.<\/p>\n<p>The Supplier Volume Allocation (SVA) is needed to ensure that VTPs understand the obligations and activities of the BSC and maintain a certain performance level.<\/p>\n\n<\/div><div class=\"panel-content\">\n    <h2 id=\"costs\">Costs<\/h2>\n<p>VTPs acceding to the BSC must pay a &#xA3;500 accession fee which covers the administrative costs of entering the market.&#xA0;Once acceded, a flat monthly fee of &#xA3;250 + VAT applies. This is known as a base monthly charge.<\/p>\n<h3>Credit cover<\/h3>\n<p>Charges are made to Parties (or by them) as a result of any imbalance (Trading Charges) 29 days after a Settlement Day. Over this period a Parties&#x2019; Credit Cover ensures it has enough collateral to cover these payments in case of default.<\/p>\n<p>We do not specify the amount of Credit Cover you must lodge; it is up to the Party to decide. Parties usually make this decision based on their trading characteristics.<\/p>\n<p>For more information on Credit Cover please see the <a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/settlement\/credit\/\">Credit Cover explained page<\/a>.<\/p>\n<h3>Other costs<\/h3>\n<p><strong>Secondary BM Unit Monthly Charge &#x2013; &#xA3;60<\/strong><\/p>\n<p>A VTP must pay a charge for each Secondary BM Unit for which the Party is Lead Party, for<br>\nall or any part of that month.<\/p>\n<p><strong>Notified Volume Charge &#x2013; &#xA3;0.0005\/MWh<\/strong><\/p>\n<p>A charge is also payable against a Party&#x2019;s Gross Contract Volume.<\/p>\n<h3>Participant Test Service charges<\/h3>\n<p>For parties wanting to test\/re-test any flows you can use the PTS service to increase the level of assurance to individual companies, and to the industry as a whole.<\/p>\n<p>The service can be used before competing CVA Qualification testing and operating in the live environment, and to test any impacts as a result of changes to your business software.<\/p>\n<p>The PTS service is booked in half day test slots (9am-1pm\/1-5pm) and is charged at &#xA3;999+VAT per test slot<\/p>\n<ul>\n<li><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/about\/bsc-costs-charges\/#participant-test-service-charges\">More about Participant Test Service charges<\/a><\/li>\n<\/ul>\n<p>To book a PTS test slot please submit a completed <a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/guidance-note\/participant-test-service-booking-form\/\">PTS Booking Form<\/a> to the BSC Service Desk.<\/p>\n\n<\/div><div class=\"panel-content\">\n    <h2 id=\"steps-needed-to-become-a-virtual-trading-party\">Steps needed to become a Virtual Trading Party<\/h2>\n<p>You will need to go through various steps in order to register as a VTP. The diagram below lists all the tasks required. Within the individual steps there are forms that need to be completed and details about financial transactions that need to take place.<\/p>\n<h3>Using the Kinnect Customer Solution<\/h3>\n<p>You can use the Elexon Kinnect Customer Solution where you will be directed to all the relevant steps needed to become an VTP. Elexon Kinnect is a self-service gateway that offers a guided and streamlined market entry process.<\/p>\n<ul>\n<li><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/operational\/kinnect-customer-solution\/\">More about the Customer Solution service<\/a><\/li>\n<\/ul>\n\n<\/div><div class=\"panel-content\">\n    <h3>Steps to Market Entry<\/h3>\n<p><iframe id=\"NRJiYbV.xHC2\" style=\"width: 100%; height: 1200px;\" src=\"https:\/\/lucid.app\/documents\/embedded\/cda91782-cc0e-43de-b49f-8b8cfc275526\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n\n<\/div><div class=\"panel-content\">\n    <h2 id=\"getting-started\">Getting started<\/h2>\n<p>The first thing to do is formally register your intent to become a VTP. You can do this by completing an expression of interest form.<\/p>\n<p>If you would like a meeting to discuss any further questions you have please state your availability in the expression of interest form, and we will arrange a meeting with you to discuss your questions or alternatively please send us an email with your questions to <a href=\"mailto:market.entry@elexon.co.uk\">market.entry@elexon.co.uk<\/a>.<\/p>\n<ul>\n<li><a href=\"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/reference\/market-entry\/meeting-request-form\/\">Express your interest in joining the market<\/a><\/li>\n<\/ul>\n<p>After the meeting you will be issued with an Elexon Kinnect login. From there you can start to go through the market entry process.<\/p>\n\n<\/div><\/div>","s3_url":""},"_links":{"self":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/pages\/211933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/users\/351"}],"replies":[{"embeddable":true,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/comments?post=211933"}],"version-history":[{"count":16,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/pages\/211933\/revisions"}],"predecessor-version":[{"id":213091,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/pages\/211933\/revisions\/213091"}],"up":[{"embeddable":true,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/pages\/1936"}],"wp:attachment":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/media?parent=211933"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/tags?post=211933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}