Based on the Swiss Financial Market Infrastructure Act (FMIA, “Finanzmarktinfrastrukturgesetz, FinfraG”), all companies with a registered office in Switzerland are obliged to report their derivative transactions to an authorized trade repository. In October 2017, in response to strong client demand, SIX Securities Services launched a central trade repository for the reporting of over-the-counter (OTC) and exchange-traded derivative (ETD) transactions – the SIX Trade Repository.

The last months have demonstrated the capability and resilience of the SIX Trade Repository, which currently handles many millions of messages a day and hundreds of concurrent users. Tomas Kindler, Head Financial Center Services and Member of the Management Committee, SIX Securities Services, is convinced that “this strong take-up of our reporting service is based on our guarantee of full data storage in Switzerland as well as full price transparency.”

The next milestone – reporting of ETD transactions

After an intense rollout phase in Q4 2017, SIX Securities Services will continue their close collaboration with Swiss-domiciled reporting users to prepare for the next milestone: the reporting of ETD transactions. Furthermore, SIX Securities Services will support small non-financial counterparties (NFC-) to fulfill their reporting obligations which are due by 1 January 2019 (rescheduled by FINMA).

SIX Trade Repository’s vision – meeting all relevant reporting obligations

In addition, in-depth analysis of support for other regulations will be undertaken. SIX Trade Repository’s vision as the only FINMA-approved Swiss trade repository is to provide a single platform for all companies with a registered office in Switzerland to meet all relevant reporting obligations and thus create synergies across the huge spectrum of regulatory reporting.