Financial Market Infrastructure Act
A new challenge for derivatives market participants
The FMIA brochure provides information about the Swiss derivative regulation which regulates the organization and operation of financial market infrastructures.
The FMIA, also known as “FinfraG”, is expected to enter into force on 1st January 2016. The act will be supplemented by two ordinances: The Federal Council Financial Market Infrastructure Ordinance ("FMIO") and FINMA's Financial Market Infrastructure Ordinance ("FMIO-FINMA") currently only available as draft versions. It will align the derivatives trading regulation with the international standards, and address key changes in the infrastructures of the financial markets, such as trading platforms and central clearing counterparties.
You will need to review your product range and assess the effect on the profitability of your services. Compliance with this new regulation that increases the complexity of the derivative market is a challenge. Acting at an early stage, assessing exposure and impact of the FinfraG requirements will provide useful insights, and facilitate compliance when the regulation comes into force.