Ordinance 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. 89 Average gross position

(Art. 103 lit. b FMIA)

Non-fin­an­cial coun­ter­parties are sub­ject to ap­pro­pri­ate cent­ral­ised risk eval­u­ation, meas­ure­ment and con­trol pro­ced­ures if they main­tain pro­fes­sion­al cent­ral treas­ury op­er­a­tions.

a.
has its re­gistered of­fice in a coun­try whose le­gis­la­tion is re­cog­nised by FINMA as be­ing equi­val­ent; and
b.
the trans­ac­tions in ques­tion are not sub­ject to the clear­ing duty un­der the le­gis­la­tion of that coun­try.
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