Market Reform Forum. Update on business reform 11 November. Andy Brookes Lloyd’s BPR. Objective: up to speed in half hour……. (Briefly) principles and approach Accounting and Settlement Electronic Claims Files Contract Certainty and Documentation Benchmarking Kinnect LMP slips.
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Market Reform Forum
Update on business reform
Result: transparency in processes and performance. Then market firms and trading partners can
measure and manage
Slip - 2005 tasks
Business Process Reform
The LMP Slip
James Willison LMP Office
LMP Slip Status
Objectives of the LMP Slip
To aid clarity at contract formation by:
Simplify post placing contract management by:
What has been mandated?
All slips incepting from 1st January 2005 must be LMP Slips. The only recognised Exemptions at this time will be:
All other slips will be processed as LMP Slips
LMP Slips – key areas
Binding Authority Wording
FISCAL & REGULATORY
LMP Slip - 2005 tasks