Regis-TR Commences Trade Repository Services in Switzerland

In April, it received recognition by the Swiss Financial Market Supervisory Authority (Finma) as a foreign repository.

Regis-TR collects and administers trade and transaction details reported by clients to give market participants and authorities an aggregated view of positions in compliance with the applicable regulations.

This service will allow participants to comply with reporting obligations under the Financial Market Infrastructure Act (FMIA), otherwise known by its German name FinfraG (Finanzmarktinfrastrukturgesetz).

FinfraG became effective on January 1, 2016 and regulates the organization and operation of financial market infrastructures including stock exchanges and central counterparties, trading of derivatives, and conduct of business rules.

The regulation aims to increase transparency in the Swiss OTC derivatives market and to mitigate systemic, counterparty and operational risks. The objective of the regulation is to align the Swiss regulatory framework with international standards, particularly with European Union regulations, such as the Markets in Financial Instruments Directive, Markets in Financial Instruments Regulation, European Market Infrastructure Regulation, and the Central Securities Depository Regulation.

Regis-TR already provides regulatory reporting services to more than 1,500 market participants across Europe and has confirmed its intention to cover the Securities Finance Transaction Reporting.