The London Market Group market modernisation programme today announced that the Placing Platform Limited (PPL) began Market Acceptance Testing (MAT). The PPL platform – a priority market initiative allowing users to place business electronically, took the next step towards the initial Terrorism ‘go-live’ with around 100 market practitioners volunteering to test the platform.

David Ledger, Chairman of the PPL Board said: “We committed to the market that we would only begin Market Acceptance once all the quality thresholds that we had established were passed. The system has done just that, so now it is time to let the practitioners test it in earnest to iron out any final issues.

“There will be extensive training and support provided for those involved in testing, and we expect this to take around five to six weeks so that both brokers and underwriters have a chance to work together to experience all aspects of the process in real time. We are very grateful to all the practitioners and subject matter experts who are committing the time to making this project a success”.