SIX Securities Services receives approval to launch its Trade Repository for Switzerland

Source: SIX

Having received approval from FINMA as an official Swiss derivative trade repository, SIX Securities Services is set to launch its central trade repository in Switzerland –the SIX Trade Repository.

The SIX Trade Repository has been in testing since January 2016 with over 50 major financial institutions, hedge fund managers and traditional fund managers. This decision means that clients can soon start formally onboarding, in preparation for the deadline for derivative transaction reporting under FMIA. Once its special conditions are fulfilled, FINMA will then communicate its final deadline.

By establishing and operating the SIX Trade Repository, SIX Securities Services is further enhancing the attractiveness and value of the Swiss financial marketplace. The system is expected go live by Q3 2017.

Thomas Zeeb, Division CEO SIX Securities Services: “Our focus as a provider of market infrastructure services is to manage and mitigate the burden of regulatory compliance through offering relevant and reliable services to our clients. Our Trade Repository for Switzerland is designed to do just this and we now look forward to working with our customers to bring them on board over the coming months.”

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