After intensive discussions during the past few days it had been finally decided that trades between NFC-s will not fall under the reporting obligation.
The only residual reporting obligation for Swiss corporates will concern trades concluded with Non-Swiss banks that will very likely not report under FinfraG.
EMIRate clients can be sure that we will offer a possibility to report the a.m. trades to a trade repository.
After yesterday's decision of the Swiss National Council to - again - exclude trades between NFCs from the reporting obligation, the Swiss Council of States will discuss the matter again today. This will be interesting because summer is getting closer and a final decision should be taken soon and definitely before summer.
According to today's decision by the Swiss Council of States, trades between NFCs (e.g. group-internal trades) will fall under the reporting obligation.
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