The Depository Trust & Clearing Corporation (DTCC) has announced that it has received regulatory approval from the Swiss Financial Market Supervisory Authority.
DTCC will now be able to provide trade reporting services in Switzerland via DTCC’s Global Trade Repository service (GTR) in Europe. GTR will further expand its services to market participants in support of reporting obligations that fall under the Swiss Financial Markets Infrastructure Act (FMIA), also known as FinfraG.
Val Wotton, Managing Director, Product Development and Strategy, Derivatives and Collateral Management at DTCC, said:
We are pleased to have received regulatory approval to provide trade repository services in Switzerland. Market participants continue to seek a single platform that handles trade reporting across multiple jurisdictions and asset classes, and we are proud to extend our capabilities to Swiss market participants and to provide increased value to our clients.
FinfraG aligns Swiss derivatives trading regulation with international standards and requires that firms with a registered office in Switzerland report their derivatives trades to an authorised or recognised trade repository.