Financial Market Infrastructure Ordinance (FinMIO)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Art. 129 Financial market infrastructures
1 The duties set out in Article 27, Article 28 paragraphs 2 to 4, Article 30 paragraphs 2 and 3, Article 31, Article 40 second sentence, and Articles 41 to 43 must be fulfilled no later than 1 January 2018. 1bis The record-keeping and disclosure duties set out in Article 36 paragraph 2 and Article 37 paragraph 1 letter d and paragraph 2 must be fulfilled no later than 1 October 2018. Facts occurring between 1 January 2018 and 30 September 2018 that come under these duties are to be recorded and retroactively reported no later than 31 December 2018. 1ter Foreign branches of Swiss securities firms and foreign participants on a trading venue must fulfil their duties under Article 36 paragraph 2 and Article 37 paragraph 1 letter d and paragraph 2 no later than 1 January 2019. 2 The exemption from the reporting duty set out in Article 37 paragraph 4 may be claimed up to 31 December 2017 without an agreement in accordance with Article 32 paragraph 3 FinMIA or an exchange of information betwe
Art. 129 — Amended by No I of the O of 29 June 2016, in force since 1 Aug. 2016 (AS 2016 2703) Para. 1 — Amended by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). Para. 1bis — Inserted by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). Para. 1ter — Inserted by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715).
Art. 130 Reporting to a trade repository
1 The duty to report to a trade repository under Article 104 FinMIA must be fulfilled at the latest: a. within six months of the first authorisation or recognition of the trade repository by FINMA: for derivatives transactions outstanding at this point if the person obliged to report is not a small financial counterparty or a central counterparty; b. within nine months of the first authorisation or recognition of the trade repository by FINMA: for derivatives transactions outstanding at this point if the person obliged to report is a small financial counterparty or a non-financial counterparty which is not small; c. by 1 January 2028: for derivatives transactions outstanding at this point in all other cases. 2 The deadlines set out in paragraph 1 shall be extended by six months in each case for the reporting of derivatives transactions that are traded via trading venues or via the operator of an organised trading facility. 3 In special cases, FINMA may extend the timeframes set out in
Para. 1 let. c — Amended by No I of the O of 30 Sept. 2022, in force since 1 Jan. 2023 (AS 2022 576). Para. 1 let. c — Amended by No I of the O of 14 Sept. 2018, in force since 1 Jan. 2019 (AS 2018 3377).
Art. 131 Risk mitigation duties
1 The duties that apply with respect to timely confirmation, portfolio reconciliation, dispute resolution and portfolio compression in accordance with Article 108 letters a to d FinMIA shall apply by the following deadlines following the entry into force of this Ordinance: a. after 12 months: for derivatives transactions outstanding at this point between counterparties that are not small, and for derivatives transactions outstanding at this point with a small financial counterparty; b. after 18 months: for all other derivatives transactions outstanding at this point. 2 The duty to value outstanding derivatives transactions in accordance with Article 109 FinMIA shall apply to outstanding derivatives transactions 12 months after the entry into force of this Ordinance. 3 The duty to exchange collateral in accordance with Article 110 of the FinMIA applies only to derivatives transactions concluded after the duties under paragraphs 4 and 5bis have entered into force. 4 The duty to exchange
Para. 3 — Amended by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). Para. 5 let. dbis — Inserted by Annex 1 No II 14 of the Financial Institutions Ordinance of 6 Nov. 2019, in force since 1 Jan. 2020 (AS 2019 4633). Para. 5 let. e — Amended by Annex 1 No II 14 of the Financial Institutions Ordinance of 6 Nov. 2019, in force since 1 Jan. 2020 (AS 2019 4633). Para. 5 let. e — Amended by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). Para. 5 let.
Art. 132 Auditing
The duty to have an audit performed by the auditors in accordance with Article 114 shall apply 12 months following the entry into force of this Ordinance.
Art. 133 Occupational pension schemes and investment foundations
1 For occupational pension schemes and investment foundations in accordance with Articles 48 to 60a of the Federal Act of 25 June 1982 on Occupational Old Age, Survivors' and Invalidity Pension Provision, the clearing duty set out in Article 97 of the FinMIA shall not apply up to 30 September 2021 for derivatives transactions that these institutions enter into with a view to reducing risk in accordance with Article 87. 1bis The transitional period in accordance with paragraph 1 shall be extended to 30 September 2022. 1ter The transitional period in accordance with paragraph 1 shall be extended to 30 September 2023. 2 The Federal Department of Home Affairs may extend the timeframe set out in this paragraph 1 in order to take account of recognised international standards and foreign legal developments.
Art. 133 — Amended by No I of the O of 5 July 2017, in force since 1 Aug. 2017 (AS 2017 3715). Para. 1 — SR 831.40 Para. 1 — Amended by No I of the FDFA O of 4 Sept. 2020, in force since 1 Oct. 2020 (AS 2020 3801). Para. 1bis — Inserted by No I of the FDHA O of 25 Aug. 2021, in force since 1 Oct. 2021 (AS 2021 539). Para. 1ter — Inserted by No I of the FDHA O of 17 Aug. 2022, in force since 1 Oct. 2022 (AS 2022 489).
Art. 134 Amendment of other legislative instruments
The amendment of other legislative instruments is set out in Annex 1.
Art. 135 Commencement
This Ordinance comes into force on 1 January 2016.