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FMIA

Transaction Reporting requirements according to FMIA

Impact on transaction reporting requirements of Eurex Zürich AG (Eurex Zürich) Exchange Participants

According to the FINMA Circular 2008/11 all products admitted for trading at Eurex Zürich are covered by the transaction reporting regime. Therefore, all transactions concluded through the trading system of the Eurex Exchanges are subject to the reporting obligation. The Exchange Participants, however, are relieved from their reporting obligation by the utilization of the trading system itself. Exchange Participants, therefore, do not have to report transactions concluded at the Eurex Exchanges.

With the new transaction reporting regime under the Swiss Financial Market Infrastructure Act (FMIA), the requirement to report all transactions concluded through the trading system of the Eurex Exchanges remains unchanged.

According to the FINMA Circular 2018/2 on the implementation of Art. 39 of the FMIA, which will come into effect on January 1, 2018 and repeals FINMA Circular 2008/11, the exemption granted for the transactions concluded through the trading system of the Eurex Exchanges and deemed being reported ceases to exist.

However, the Exchange Participants of Eurex Zürich remain relieved from their reporting obligation pursuant to Art. 39 of the FMIA for transactions concluded through the trading system of the Eurex Exchanges:

Exchange Participants of Eurex Zürich do not have to provide any additional information (provided their transaction data is compliant to MiFID II/MiFIR – see Eurex Circular 040/17). This procedure will be a complimentary service of Eurex Zürich for its Exchange Participants.

Where the information provided during order entry by the Exchange Participants is incorrect or incomplete, Exchange Participants need to amend the data contained in the automatic reporting by Eurex Zürich after the execution of the transaction and provide the corrected or completed information directly to the Reporting Office of Eurex Zürich.

All transactions concluded outside the trading system of the Eurex Exchanges must be reported by the Exchange Participants to the Reporting Office of Eurex Zürich.

The Reporting Office of Eurex Zürich is operated and maintained by SIX Swiss Exchange AG (SIX). Exchange Participants need to ensure that they deliver the relevant data within the foreseen timeframes pursuant to FINMA Circular 2018/2 to the technical infrastructure of SIX.

If you have any questions or require further information, please feel free to contact your dedicated Key Account Manager or customer.readiness@eurexchange.com

 

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