Art. 86 Transactions not covered
(Art. 94 para. 4 and 97 para. 2 FinMIA)28 1 Transactions with counterparties that are subject to the clearing duty for the first time in accordance with Article 98 paragraph 2 or Article 99 paragraph 2 FinMIA do not need to be cleared through a central counterparty if they were concluded prior to subjection to the clearing duty. 2 Derivatives transactions with counterparties which have their registered office or domicile in Switzerland to which the derivatives trading provisions do not apply do not have to be cleared through a central counterparty. 3 Derivatives transactions in which a covered bond issuer or a legal entity of a cover pool for covered bonds is involved do not have to be cleared via a central counterparty if the following prerequisites are met:
28 Amended by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). 29 Inserted by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). |