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

(Art. 94 para. 2 and 102 Fin­MIA)

Cross-bor­der trans­ac­tions do not have to be cleared through a cent­ral coun­ter­party if the for­eign coun­ter­party:

a.

has its re­gistered of­fice in a coun­try whose le­gis­la­tion is re­cog­nised by FINMA as be­ing equi­val­ent; and

b.

the trans­ac­tions in ques­tion are not sub­ject to the clear­ing duty un­der the le­gis­la­tion of that coun­try.