Trade Repository

Trade Repository

Trade repositories collect and manage data of derivative transactions in order to promote transparency in the derivatives market. Having received approval from FINMA as an official Swiss derivative trade repository, SIX Securities Services is set to launch its central trade repository in Switzerland – the SIX Trade Repository.

Reporting obligation

In Switzerland, the reporting obligation is defined in Article 104 of the new Financial Market Infrastructure Act (FMIA)

Art. 104 Duty
1 Derivative transactions must be reported to a trade repository
  authorized or recognized by FINMA.

The reporting obligation applies to all financial instruments that are considered derivatives. Explicitly exempted from the law are structured products. The FMIA and the reporting obligation have not yet entered into force. 

* In contrast to EMIR (European Market Infrastructure Regulation), Switzerland only foresees a single-sided reporting obligation, i.e. only one counterparty of a transaction needs to report.

* In contrast to EMIR (European Market Infrastructure Regulation), Switzerland only foresees a single-sided reporting obligation, i.e. only one counterparty of a transaction needs to report.