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Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FinMIO)
Art. 96Portfolio 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.