Switzerland introduces the clearing obligation for certain derivatives for FC+ and NFC+

The Swiss Financial Market Supervisory Authority FINMA has recently announced that it will introduce the clearing obligation, meaning to clear certain derivatives over central counterparties, under the Swiss Financial Market Infrastructure Act (FMIA) that are traded by counterparties having the status of either an FC+, meaning large Financial Counterparty, or an NFC+, meaning a large Non-Financial Counterparty.