Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.


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Art. 110 Exchange of collateral

1Coun­ter­parties, with the ex­cep­tion of small non-fin­an­cial coun­ter­parties, shall ex­change ap­pro­pri­ate col­lat­er­al.

2They must be cap­able of se­greg­at­ing the col­lat­er­al from their own as­sets in an ap­pro­pri­ate man­ner.

3Agree­ments re­gard­ing the dir­ect real­isa­tion of col­lat­er­al ex­changed in ac­cord­ance with para­graph 1 whose value can be de­term­ined ob­ject­ively shall re­main in force even in fore­clos­ure pro­ceed­ings and in the case of in­solv­ency meas­ures against the pro­tec­tion seller.

4The Fed­er­al Coun­cil shall reg­u­late the re­quire­ments for the ex­change of col­lat­er­al.

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