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Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FinMIO)
Art.85Commencement of duty
(Art. 97 and 101 para. 2 FinMIA)
The duty to clear derivatives transactions via authorised or recognised central counterparties applies from the point at which FINMA publishes the clearing duty for the derivative category 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 12 months: for derivatives transactions which:
1.
participants in an authorised or recognised central counterparty conclude anew with other financial counterparties that are not small, or
2.
other financial counterparties that are not small conclude anew with one another;
c.
after the expiry of 18 months: for all other derivatives transactions concluded anew.