Ordinance
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Ordinance, FinMIO)

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.

of 25 November 2015 (Status as of 1 August 2021)


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Art. 96 Portfolio reconciliation

(Art. 108 lit. b Fin­MIA)

1 The de­tails for re­con­cil­ing the port­fo­li­os must be agreed pri­or to com­plet­ing an OTC de­riv­at­ives trans­ac­tion.

2 The port­fo­lio re­con­cili­ation shall en­com­pass the key terms of the con­cluded OTC de­riv­at­ives trans­ac­tions and their valu­ation.

3 It may also be car­ried out by a third party ap­poin­ted by one of the coun­ter­parties.

4 It must be car­ried out:

a.
every busi­ness day if there are 500 or more OTC de­riv­at­ives trans­ac­tions out­stand­ing between the coun­ter­parties;
b.
once a week if there are between 51 and 499 OTC de­riv­at­ives trans­ac­tions out­stand­ing between the coun­ter­parties at any point dur­ing the week;
c.
once a quarter if there are 50 or less OTC de­riv­at­ives trans­ac­tions out­stand­ing between the coun­ter­parties at any point dur­ing the quarter.

5 De­riv­at­ives not covered by the clear­ing duty un­der Art­icle 101 para­graph 3 let­ter b Fin­MIA are not factored in for pur­poses of de­term­in­ing out­stand­ing trans­ac­tions in ac­cord­ance with para­graph 4.

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