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

(Art. 112 FMIA)

The duty to trade a de­riv­at­ives trans­ac­tion via a trad­ing ven­ue or or­gan­ised trad­ing fa­cil­ity in ac­cord­ance with Art­icle 112 FMIA (plat­form trad­ing duty) shall ap­ply from the point at which FINMA pub­lishes such a duty for the de­riv­at­ives trans­ac­tion in ques­tion:

a.

after the ex­piry of six months: for de­riv­at­ives trans­ac­tions which par­ti­cipants in an au­thor­ised or re­cog­nised cent­ral coun­ter­party con­clude anew with one an­oth­er;

b.

after the ex­piry of nine months: for de­riv­at­ives trans­ac­tions:

1.

which par­ti­cipants in an au­thor­ised or re­cog­nised cent­ral coun­ter­party con­clude anew with oth­er fin­an­cial coun­ter­parties, or

2.

which oth­er fin­an­cial coun­ter­parties that are not small con­clude anew with one an­oth­er;

c.

after the ex­piry of 12 months: for all oth­er de­riv­at­ives trans­ac­tions con­cluded anew.