Despite trader concerns over software problems in test runs, the California Independent System Operator\u2019s board concluded its new wholesale market plan should launch in February 2009. The board expressed some doubts, however, about the new market\u2019s ability to handle all its functions--including a day-ahead energy and capacity market, as well as transmission congestion management. Yet on October 25, the board instructed staff to proceed with its planned start date. The software simulations have not been \u201cproduction grade,\u201d according to grid operator chief executive officer Yakout Mansour. In spite of that, board chair Mason Willrich said the market introduction cannot slip another time because of the large amount of momentum and time and capital invested. We can\u2019t get \u201coff the bus,\u201d he said. \u201cThe benefits are too great to let it go away,\u201d added board member Tom Page. The market introduction is about a year later than originally envisioned. In deference to traders\u2019 concerns, the board agreed to another market software check in late November. In other grid operator action, the board approved a $2,500\/MWh ceiling and floor for settlements through its wholesale market. Currently, there\u2019s a bid cap of $500, but staff notes that settlement prices can go higher than that. CAISO staff noted the move is to prevent any unknown market moves. Traders opposed the move.