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    FINMA Announces Transition Periods for Clearing Obligation

    August 31, 2018

    FINMA announced the 6, 12, and 18 month transition periods for clearing obligation starting from September 01, 2018. The clearing obligation is stipulated in the Financial Market Infrastructure Act. FINMA must determine the derivative categories to be covered under clearing obligation. This is the purpose of the FINMA's Financial Market Infrastructure Ordinance (FMIO-FINMA) initiating the 6, 12, and 18 month transition periods set out in the Federal Financial Market Infrastructure Ordinance. FINMA introduced a clearing obligation for standardized interest rate and credit derivatives traded over the counter in May 2018. The corresponding annex of the FMIO-FINMA will enter into force on September 01, 2018.

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    Effective Date: September 01, 2018

     

    Keywords: Europe, Switzerland, Securities, OTC Derivatives, FMI Ordinance, Clearing Obligation, Transition Periods, FINMA

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