Drucken
Artikel, Notizen und Markierungen werden geladen... Bitte um etwas Geduld.

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

Art. 100a Exceptions to the duty to exchange collateral 32

(Art. 110 Fin­MIA)

1 The ex­change of ini­tial mar­gins and vari­ation mar­gins may be waived if:

a.
the col­lat­er­al to be ex­changed would amount to less than CHF 500,000;
b.
small non-fin­an­cial coun­ter­parties are in­volved in the trans­ac­tion.

2 The ex­change of ini­tial mar­gins may be waived if such mar­gins would have to be provided for the cur­rency com­pon­ents of cur­rency de­riv­at­ives where the nom­in­al amount and in­terest in one cur­rency are ex­changed against the nom­in­al amount and in­terest in an­oth­er cur­rency at a pre­defined time and ac­cord­ing to a pre­defined meth­od.

3 If one of the coun­ter­parties to a de­riv­at­ives trans­ac­tion is a covered bond is­suer or a leg­al en­tity of a cov­er pool for covered bonds, that coun­ter­party may, sub­ject to the con­di­tions set out in Art­icle 86 para­graph 3, agree with its coun­ter­party that:

a.
an ex­change of ini­tial mar­gins will be dis­pensed with; or
b.
the covered bond is­suer or the leg­al en­tity of a cov­er pool for covered bonds will pay no vari­ation mar­gins, and the coun­ter­party will pay vari­ation mar­gins in cash.

32 In­ser­ted by No I of the O of 5 Ju­ly 2017, in force since 1 Aug. 2017 (AS 2017 3715).