The EMTA PEN Indicative Survey is intended to be activated in times of market disruption following the failure of the primary settlement rate option  to be posted for not less than 30 consecutive calendar days.

EMTA disclaims liability for the EMTA PEN Indicative Survey and no representation or warranty, express or implied, is made concerning the rate (including, without limitation, the methodology for its determination) or its suitability for any particular use.