Yesterday was the first day of reporting under the Swiss Financial Markets Infrastructure Act, also known as “Finfrag” (short for Finanzmarktinfrastrukturgesetz). Finfrag is the Swiss set of rules that meet the requirements of the G20 Finanzmarktinfrastrukturgesetz) in Pittsburgh in 2009, which are met in the EU by EMIR, the US by the Dodd Frank Act and globally with other regulations (see here).

Reporting commenced for the larger Financial Counterparties, known as “FC+”, yesterday. Each of the two approved trade repositories, SIX and REGIS-TR made press releases, which can be found here and here respectively.

The next group of counterparties, “FC-” and “NFC+” will start on the first working day of January 2018, with the remainder starting on the 1st April 2018.