MOSL reports under budget spending for 2021-22

MOSL reported a strong year of delivery and spend under budget in its Annual Report and Financial Statements for the year ending 31 March 2022.

Total operating and capital expenditure in 2021/22 was £11,056k - £359k (3.1%) lower than the budget set out in the 2021-24 Business Plan. £424k of Market Operator (MO) Charges will be redistributed back to members, driven by spending less than budget and from the income collected for additional services.

Four of MOSL’s nine specified improvement programmes were fully delivered by the end of March 2022. A further four were above 90% completion and the final one over 80% complete. MOSL explained that in part that was due to resources being reprioritised to the Bilateral Transactions Programme and that at the time of publication of the annual report (8 June 2022), all outstanding commitments had been delivered.

Chief executive, Sarah McMath, highlighted the bilaterals programme and advances in MOSL’s data analytics capabilities as particular strengths in the year.

Following approval from the Board, trading parties will be asked to formally adopt the annual report at a general meeting on 20 July 2022.