OTC derivatives transactions which do not have to be cleared by a central counterparty authorised or recognised by FINMA are subject to the duties set out in this section.
These duties do not apply to:
derivatives transactions with counterparties in accordance with Article 93 paragraph 4 and Article 94 paragraph 1;
1 currency swaps and currency forward transactions, provided they are settled on a payment versus payment basis;
derivatives transactions voluntarily cleared by a central counterparty authorised or recognised by FINMA.
The Federal Council may make provision for further complete or partial exemptions for reasons of proportionality and taking account of recognised international standards.
Footnotes
Amended by Annex No II 18 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631;BBl 2015 8901). ↩
0 commentaries
No commentaries are available for this article yet.