30 March 2016
Reporter: Stephanie Palmer

REGIS-TR takes on Swiss derivatives reporting

REGIS-TR, the European trade repository owned by Clearstream and Iberclear, has developed a new service for regulatory reporting under the Swiss Financial Market Infrastructure Act (FMIA).

The act draws on the European Market Infrastructures Regulation (EMIR) and regulates derivatives trading in Switzerland. It requires all entities with their registered office in Switzerland and which trade in derivatives, to report to the Swiss supervisory authority for financial markets, FINMA.

REGIS-TR will offer transaction, position and valuation reporting for compliance with FMIA, allowing client to use the same platform as for compliance with EMIR reporting.

Clients can use the same inbound and outbound connectivity channels for both regulation, streamline onboarding processes, and maintain one relationship, while having access to detailed documentation and a transparent fee schedule.

The new service is still subject to regulatory approval. REGIS-TR has submitted a letter of intent to become a recognised foreign trade repository in Switzerland, and reporting on the platform should start six months after approval.

Irene Mermigidis, managing director of REGIS-TR, said: “REGIS-TR already has a number of important Swiss customers for reporting under EMIR.”

She added: “We have experienced significant demand to extend our services to cover FinfraG so that these participants can benefit from a number of synergies and be able to re-use the tried and tested infrastructure already in place with us.”

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