CMC Modifications CMC_16_25 & CMC_17_25 Decision Paper (SEM-26-013)

The SEM Committee is today, 18 March 2026, publishing its decision with respect to two proposed Modifications to the CMC discussed at Workshop 45. These are:

•    CMC_16_25: CRM De-Rating Factors for DSUs
•    CMC_17_25: Drawdown of Performance Security

The SEM Committee is approving CMC_17_25, effective from the date of publication, and rejecting CMC_16_25.