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


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Art. 110 Exchange of collateral

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

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

3 Agree­ments 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.

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

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