Migration data feed management | Legally binding responsibilities

In terms of a migration from one FSP to another, PMX only becomes responsible for data‑feed connectivity and ongoing account management once the addendum to the Terms of Business is fully signed by both FSPs and PMX.

1. No signed addendum = no legal authority = no PMX responsibility;
2. Switches before the addendum is signed : If the outgoing or incoming FSP starts switching or moving accounts before the legal framework is in place:

• We have no recourse
• We cannot treat the move as a PMX migration
• We carry no responsibility for missed rebalances, missing data feeds, or incorrect model application

This exact risk is highlighted in migration discussions where timing and documentation are stressed as compliance‑critical steps.

3. When PMX’s active role starts:
Our operational and compliance responsibilities begin at the following point:

• Signed TOB addendum (all parties) 
• Client annexures prepared and accepted
• Mandates/Investor letters collected where required 
• PRS formally initiates migration execution in WealthExplorer

Only at this stage do we:

• Monitor whether data feeds are flowing
• Rematch broker codes
• Ensure accounts continue to be actively managed
• Step in on missing data feeds (including doing P&Ls where appropriate)

4. If switches happen early , your assumption is correct : If the FSP begins switching before the addendum is signed, any missed rebalances or data‑feed failures fall outside PMX’s responsibility.
We are not legally appointed at that stage, and therefore cannot be accountable for operational impacts.