Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading

(Art. 108 lit. c FMIA)

¹The place of jur­is­dic­tion and the ap­plic­able law for any dis­putes must be agreed at the latest when an OTC de­riv­at­ives trans­ac­tion is con­cluded.

²Pro­ced­ures are to be set out in the agree­ment:

a.

for the iden­ti­fic­a­tion, re­cord­ing and mon­it­or­ing of dis­putes in con­nec­tion with the re­cog­ni­tion or valu­ation of the trans­ac­tion and the ex­change of col­lat­er­al between the coun­ter­parties; the re­cord of the dis­pute has to en­com­pass at least how long the dis­pute has been go­ing on for up to that point, the coun­ter­party and the dis­puted amount;

b.

for the swift res­ol­u­tion of dis­putes and for a spe­cial pro­cess for dis­putes that can­not be re­solved with­in five busi­ness days.