Electronic Market Reform Contract Endorsement (e-MRCE) - Adoption and implementation FAQ

1.   When should I start doing e-MRCE?   
Now.

2.  Do I need to tell my counterparties that I am starting an e-MRCE “partnership” with them? Should this be in particular lines of business? Or do I just blast them out to anyone and assume that they are awake and ready to respond? The latter seems a bit risky, the former a bit bureaucratic. What is the answer? 
In line with past experience organisations will be encouraged to establish “partnerships” with their counterparties confirming details that may vary across lines of business.
Immediately following these launch sessions you will have received a questionnaire from your Associations requesting the names of those sponsoring and responsible for e-MRCE in your organisation. The MRO will be consolidating this and making it available publicly to support partnerships.
     
   
3.  Will a master directory of email addresses be available?      
No. Each organisation will be responsible to maintain their own address lists as is the case now.
 

4.  Will electronic processing be made mandatory? 
No. However, it would be difficult to imagine the transfer of more and more information not becoming the norm. This will introduce significant efficiency and accuracy with data entered only once at source. Face to face negotiation and the value of relationships will continue but the information supporting such business will be transferred electronically between parties.
 

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