Financial markets administration services. The Ministry of Defence (MOD) Financial Management Policy and Accounting team (FMPA) provides financial management services for the MOD. This includes a Treasury Management Service which operates current competitive framework arrangements with accredited commercial and investment institutions to deliver a fuel hedging service. The existing framework arrangements are due to expire on 31.7.2013 and the MOD seeks to have new fuel hedging arrangements in place for 3 years with effect from 1.8.2013. The service will cover bulk aviation (jet fuel), marine diesel and ground fuel and will provide instruments (swaps) over three years (on a rolling quarterly basis) from 2014/15-2016/17. Annual expenditure on aviation, marine diesel and ground fuel is forecast at over GBP 600m. Under the arrangement(s) swaps will be offered for some 80 % of the MOD forecast demand, on a quarterly basis, layered over 3 years.