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.