Federal Act
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Act, FinMIA)

¹ Thresholds ap­ply by de­riv­at­ives cat­egory to non-fin­an­cial coun­ter­parties' av­er­age gross po­s­i­tions in out­stand­ing OTC de­riv­at­ives trans­ac­tions.

² A single threshold shall ap­ply to the av­er­age gross po­s­i­tions in all out­stand­ing OTC de­riv­at­ives trans­ac­tions of fin­an­cial coun­ter­parties.

³ If the coun­ter­party is part of a fully con­sol­id­ated group, all of the in­tra-group OTC de­riv­at­ives trans­ac­tions con­cluded by the coun­ter­party or by oth­er coun­ter­parties shall also be factored in­to the cal­cu­la­tion of the av­er­age gross po­s­i­tions.

⁴ The Fed­er­al Coun­cil shall de­term­ine:

a.

for non-fin­an­cial coun­ter­parties, the level of the thresholds for each de­riv­at­ives cat­egory and how they are cal­cu­lated;

b.

which de­riv­at­ives trans­ac­tions of non-fin­an­cial coun­ter­parties are not to be taken in­to ac­count when cal­cu­lat­ing the thresholds;

c.

the threshold for fin­an­cial coun­ter­parties.