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FinFrag

This category contains 14 posts

Finfrag delay for smaller Swiss entities

Finma, the Swiss financial regulator, has announced that the start of reporting for the smallest non financial entities caught by the Financial Markets Infrastructure Act (also known as “Finfrag”) will be delayed by nine months, to the 1st January 2019. The announcement can be found here. The first group of counterparties, larger financial counterparties (FC+) … Continue reading

First “Finfrag” go live

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 … Continue reading

Could EMIR reporting change? Articles and information on trade reporting under EMIR, MiFID, SFTR and FinFrag

There has been a great deal of discussion on the future of EMIR following the EMIR review in 2015. Some of this has focused on whether the reporting of trades under EMIR should move to a one sided model, or possibly one with “enforced delegation” when a financial counterparty trades with a “small” non financial. … Continue reading

“Finfrag” dates set by FINMA with two trade repositories approved

FINMA, the Swiss Financial Market Supervisory Authority has approved both the Six Trade Repository and also REGIS-TR under the Financial Market Infrastructure Act (FMIA, also known as “Finfrag”, short for “Finanzmarktinfrastrukturgesetz”). The act of approval sets the start dates for reporting under the rules, in three phases: 1st October 2017 – For “FC+” entities and CCPs. … Continue reading

Article on regulatory change and architecture

See here for an article by Ian Sutherland on The OTC Space about implementing regulatory change and technology. While the article is focused on banking , the energy and commodity sector is in the process of grappling with similar issues. These are the ones of whether to approach regulatory change on a strategic or tactical … Continue reading

SIX receives initial Finfrag trade repository approval

The SIX trade repository has received approval as a Trade Repository for the Swiss FMIA “Finfrag” rules from the regulator  FINMA. according to  the press release which can be found here. Reporting under the rules, is to start for large financial counterparties 6 months after the final approval, which according the press release will be received … Continue reading

What does 2017 have in store for us?

For many, today is the first working day of 2017, which is also the original start date of MiFID II, before it was delayed by a year. With an eventful year behind us, what can we expect in the coming months, both on paper and in reality? Rules There is one year to go until … Continue reading

Articles on reporting

There have been several announcements over the past weeks in the area of reporting regulatory data , with changes under EMIR, details on MiFID II transaction reporting, and REMIT documents. This article by John Kernan of REGIS-TR published on the LinkedIn site examines the challenges of reporting under different rule sets and considers whether convergence … Continue reading

Webinar on Finfrag

The Swiss FMIA(“Finfrag”)  regulation will was passed into law in January 2016 and will start to take effect in the coming months. The rules are broadly  a Swiss version of EMIR, and amongst other things include a requirement to report derivatives to approved Trade Repositories. Unlike EMIR, Finfrag mandates “one sided” reporting, where only one of the counterparties … Continue reading

REGIS-TR announces intention to become “Finfrag” trade repository

REGIS-TR have announced in this press release that they intend to become an authorised trade repository under the Swiss FMIA reporting rules (“Finfrag”). Six announced their intention to act as a repository a few months ago (see here), utilising the technology of Unavista. Finfrag is effectively the Swiss version of EMIR, with the rules being … Continue reading