Art. 94 Duties
(Art. 108 lit. a FMIA) 1The contractual terms must be reciprocally confirmed at the latest within two business days of the conclusion of the OTC derivatives transaction in question. 2OTC derivatives transactions concluded after 4 p.m. must be confirmed at the latest within three business days of the transaction being concluded. 3The deadlines that apply for complex transactions and small counterparties shall be extended by one business day. 4The counterparties may agree that an OTC derivatives transaction should also be considered confirmed if one of the counterparties does not raise any objection to a unilateral confirmation. |