Ordinance
of the Swiss Financial Market Supervisory Authority on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(FINMA Financial Market Infrastructure Ordinance, FinMIO-FINMA)

(Art. 120 para. 1, 123 para. 1 Fin­MIA)

¹ Lend­ing trans­ac­tions and sim­il­ar trans­ac­tions, such as re­pur­chase agree­ments or col­lat­er­al trans­ac­tions with trans­fer of own­er­ship must be re­por­ted.

² The no­ti­fic­a­tion duty is only in­cum­bent on the con­tract­ing party ac­quir­ing tem­por­ary own­er­ship of the se­cur­it­ies through such trans­ac­tions:

a.

for lend­ing trans­ac­tions: the bor­row­er;

b.

for re­pur­chase agree­ments: the buy­er; and

c.

for col­lat­er­al trans­ac­tions: the col­lat­er­al taker.

³ On ex­piry of the trans­ac­tion, the re­turn­ing con­tract­ing party un­der para­graph 2 is again sub­ject to a no­ti­fic­a­tion duty if a threshold in ac­cord­ance with Art­icle 120 para­graph 1 Fin­MIA is reached or fallen be­low.

⁴ Lend­ing trans­ac­tions and re­pur­chase agree­ments do not need to be re­por­ted if they are pro­cessed in a stand­ard­ised man­ner via trad­ing plat­forms for li­quid­ity man­age­ment pur­poses.