Clifford Chance

Comparison of EU and Swiss derivatives rules

5 November 2015

The new Swiss regime for the regulation of derivatives trading is expected to come into force on 1 January 2016, subject to phase-in.

In June 2015, the Swiss parliament passed into law the Federal Act on Financial Market Infrastructures and the Federal Department of Finance, the Financial Markets Authority and the Swiss National Bank have consulted on the implementing ordinances, which are expected to be adopted before year end.

The new regime has many similarities with the regime under the EU market infrastructure regulation (EMIR) but has important differences.  Clifford Chance and Bär & Karrer have produced an outline comparison of key features of the EU and Swiss regimes.

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