Financial Markets Infrastructure Act, also known as FinfraG (Finanzmarktinfrastrukturgesetz)

FinfraG Transaction Reporting: Background

The Swiss Financial Market Infrastructure Act, also known in German as FinfraG (Finanzmarktinfrastrukturgesetz) has been created in order to align the Swiss regulatory framework with international standards. It aims to increase transparency, reduce counterparty and operational risk in trading and also enhance market integrity and oversight.

Under FinFraG, Counterparties who have a registered office in Switzerland (including their foreign branches) are required to report derivatives trades, transactions, valuations and collateral to a trade repository whether done bilaterally or on a trading venue. Dates for the commencement of reporting are dependent on the status of the relevant counterparty, and are as follows:

• (CCP/FC+) from 1st of October 2017 if the counterparty which is required to report is a central counterparty (CCP) or a financial counterparty (FC)
• (FC-/NFC+) from 1st of January 2018 if the counterparty which is required to report is a small financial counterparty (FC-) or a non-financial counterparty (NFC) which is not small; (NFC+)
• (NFC-) from 1st of January 2019 in all other cases. However, transactions between two small non-financial counterparties (NFC-) do not have to be reported.

Deutsche Bank FinfraG Transaction Reporting Service

Deutsche Bank is offering a reporting service to the SIX Trade Repository to help our clients comply with their reporting obligations under FinfraGFor more information please email Deutsche Bank at finfrag.reporting@db.com