# SIX Securities Services goes live with its trade repository to report derivatives transactions in Switzerland
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-10-04
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Swiss Trade Repository by SIX Securities Services Goes Live
Meta Description: Discover how the largest Swiss financial counterparties are utilising the new trade repository service provided by SIX Securities Services in compliance with
URL: https://financedigest.com/six-securities-services-goes-live-with-its-trade-repository-to-report-derivatives-transactions-in-switzerlandhtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd041017-3-1736843415211-compressed.jpg)

_Today – six months after receiving approval from FINMA – the Swiss trade repository service provided by SIX Securities Services officially went live. The vast majority of the large financial counterparties in Switzerland (classified as FC+), starting their reporting obligations in the first phase today, decided in favour of the SIX Securities Services solution and are set up in the system._

In accordance with the Financial Market Infrastructure Act (FMIA), all companies with a registered office in Switzerland are obliged to report derivative transactions to an authorised trade repository. In response to client demand, SIX Securities [Services today launched its FINMA-accredited central trade](https://www.financedigest.com/whats-in-store-for-2016-leading-online-trading-services-provider-easy-forex-reveals-predictions-for-the-new-year.html "WHAT’S IN STORE FOR 2016? LEADING ONLINE TRADING SERVICES PROVIDER EASY-FOREX REVEALS PREDICTIONS FOR THE NEW YEAR") repository for the reporting of OTC and exchange-traded derivative (ETD) transactions under FMIA. As of today, in accordance with the FMIA deadline, the system is officially up and running.

During the last six months, SIX [Securities Services](https://www.financedigest.com/a-culture-of-cyber-security-throughout-financial-services-organisations.html "A Culture of Cyber Security Throughout Financial Services Organisations") worked closely with banks to ensure an orderly and seamless onboarding process and overcome technical challenges in a timely manner. According to **Klaus Durrer**, Head Regulatory Change Management Switzerland, UBS, “We are delighted with the support and the working relationship with SIX Securities Services in conjunction with the launch of this [key market](https://www.financedigest.com/alanine-market-key-players-swot-analysis-key-indicators-and-forecast-to-2029.html "Alanine Market Key Players, SWOT Analysis, Key Indicators and Forecast to 2029") infrastructure for Switzerland.”

According to **Tomas Kindler**, Head Financial Center [Services and Member of the Management](https://www.financedigest.com/service-lifecycle-management-applications-market-to-grow-at-a-cagr-of-6-9.html "Service Lifecycle Management Applications Market to grow at a CAGR of 6.9%") Committee, SIX Securities Services, “We are very pleased about the fact that our trade repository is the provider of choice when it comes to derivatives transaction reporting under FMIA. With most of the large Swiss financial counterparties active in the system, SIX [Securities Services continues its effort to make the next](https://www.financedigest.com/is-the-next-big-cyber-threat-mis-placed-security-spending.html "Is the next big cyber threat mis-placed security spending?") onboarding phases for FC- and NFC+ clients as convenient as possible.”


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---