Derivatives transactions must be reported to a trade repository authorised or recognised by FINMA.
The following shall be obliged to report:
in the case of transactions between a financial and a non-financial counterparty: the financial counterparty;
in the case of transactions between two financial counterparties:
1. the financial counterparty which is not small in accordance with Article 99,
2. the selling counterparty in the case of a transaction between two financial counterparties or between two small financial counterparties;
c. the counterparty which has its registered office in Switzerland if the foreign counterparty does not report.
In the event of a transaction between non-financial counterparties, paragraph 2 letters b and c apply by analogy. A transaction between small non-financial counterparties does not have to be reported.
If the transaction is cleared centrally, the report is submitted by the central counterparty. If a recognised foreign central counterparty does not submit reports, the reporting duty shall remain with the counterparties.
Third parties may be involved in reporting.
If there is no trade repository, the Federal Council shall indicate the body to which the report is to be submitted.
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