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.
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.
SIX intends to establish a FINMA registered trade repository domiciled in Switzerland. SIX will thus assist its clients in fulfilling their reporting obligations for derivatives while ensuring maximum data protection.
The below documentation is relevant for firms that plan to use the SIX trade repository to fulfill their reporting obligations. The section will regularly be updated as the project evolves. Any updates will be communicated via our newsletter.
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