Reporting requirements for participants of SIX Swiss Exchange, Swiss securities dealers and foreign branches of Swiss securities dealers

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1 Reporting requirements for participants of SIX Swiss Exchange, Swiss securities dealers and foreign branches of Swiss securities dealers Effects of the amendment to the transitional provisions in Art. 129 FMIO and Art. 58a SESTO

2 Reporting requirements for participants of SIX Swiss Exchange, Swiss securities dealers and foreign branches of Swiss securities dealers of 1 August 2017 (Swiss Federal Council decision of 5 July 2017) The reporting requirements for trading venue participants and Swiss securities dealers are laid down in Art. 39 of the Financial Market Infrastructure Act (FMIA), Art. 15 of the Stock Exchange Act (SESTA), Art. 37 of the Financial Market Infrastructure Ordinance (FMIO), Art. 31 of the Stock Exchange Ordinance (SESTO) and Art. 2 5 FINMA- FMIO. These provisions have been in force since 1 January 2016 and, pursuant to the transitional provisions in Art. 129 FMIO and Art. 58a SESTO, must be complied with no later than 1 January With the amendment of the transitional provisions as of 1 August 2017, the transitional period has been extended for certain attributes of the new provisions for Transaction Reports. These attributes relate to the details of the beneficial owner (BO) pursuant to Art. 37 (1) letter d FMIO and Art. 31 (1) letter d SESTO and the reporting of transactions in derivatives pursuant to Art. 37 (2) FMIO and Art. 31 (2) SESTO. The extension of the transitional period, however, does not apply to transaction reports for Structured Products that are admitted to trading on SIX Swiss Exchange. The duration of the transitional period differs for Swiss participants and securities dealers on the one hand and remote participants and foreign branches of Swiss securities dealers on the other, as follows:: Swiss participants of SIX Swiss Exchange and securities dealers must comply with reporting on the beneficial owner (BO) for trades and s in securities and full reporting for derivatives no later than 1 October Any transactions that have been reported without the beneficial owner details between 1 January 2018 to 30 September 2018 need to reported again in full by 31 December Likewise, derivative trades which have not been reported in the same period need to be transaction reported by 31 December For remote participants of SIX Swiss Exchange and foreign branches of Swiss securities dealers, the reporting of the beneficial owner for trades and s in securities, as well as full reporting of trades and order transmissions in derivatives must be complied with 1 January There is no need to extend the data of any transaction reports submitted in the calendar year During the transitional period, the existing scope of the transaction reporting need to be complied with, as in this period it is only the reporting of the beneficial owner information and the reporting of trades and s in derivatives have been postponed. Full compliance with the reporting requirements, including for the postponed attributes, will be possible with the SIX Swiss Exchange Reporting Office 1 January 2018, with reporting to be in accordance with the requirements of FINMA Circular 2018/2 "Duty to report securities transactions" using the Swiss format. For transaction reports using the RTS22 format there is no transitional period concerning supplying the beneficial owner; it must be included in any report submitted in the EU standard. For participants of SIX Swiss Exchange and Swiss securities dealers as well as foreign branches of Swiss securities dealers that wish to make use of the amendment to the transitional provisions, the tables below set out how they might proceed. The following table does not make reference to the distinction between "reportable" and "non-reportable" securities. The explanations set out apply to reportable securities. The following table includes only Transaction Reporting and not Trade Report according to Clause 2.1 Reporting Office Rules SIX Swiss Exchange. Those subject to the duty to report have the option of complying in full with their reporting requirements for securities and derivatives 1 January Page 2

3 Swiss participants of SIX Swiss Exchange in the order book and trade on the Exchange (On Exchange On Order Book und Dark Book) off order book (On Exchange Off Order Book) not 1 Trade outside of a (Off Exchange) Trade in a Eurex contract which was not reported to Eurex Derivatives which pursuant to Art. 37 para. 2 FMIO are not admitted to trading on SIX Swiss Exchange Exchange in the order book or in the order book order the Exchange in the order book or in the order book without pretrade with or without BO information Exchange off order book order the Exchange off order book with or without BO information (as each execution off Exchange order each trade executed off Exchange with or (as until Full compliance with the reporting requirements as well as full subsequent reporting of Transaction Reports of all until only partially reported (i.e. ) trades and s. Full compliance with the reporting requirements as well as full subsequent reporting of Transaction Reports of all until not or only partially reported (i.e. without BO information) trades and s Full compliance with the reporting requirements 1 Please note Art. 41 FMIA Page 2

4 Swiss securities dealers (not participants of SIX Swiss Exchange) in the order book and trade on the Exchange (On Exchange On Order Book und Dark Book) Trade on the Exchange off order book (On Exchange Off Order Book) not 2 Trade outside of a (Off Exchange) Trade in a Eurex contract which was not reported to Eurex Derivatives which pursuant to Art. 37 para. 2 FMIO are not admitted to trading on SIX Swiss Exchange Exchange in the order book or in the order book order BO information (as Exchange off order book order (as each execution off Exchange order each trade executed off Exchange with or (as until Full compliance with the reporting requirements as well as full subsequent reporting of Transaction Reports of all until only partially reported (i.e. ) trades and s. Full compliance with the reporting requirements as well as full subsequent reporting of Transaction Reports of all until not or only partially reported (i.e. without BO information) trades and s Full compliance with the reporting requirements 2 Please note Art. 41 FMIA Page 3

5 Remote participants of SIX Swiss Exchange (Remote Members) and foreign branches of Swiss securities dealers in the order book and trade on the Exchange (On Exchange On Order Book und Dark Book) off order book (On Exchange Off Order Book) not Trade outside of a (Off Exchange) Trade in a Eurex contract which was not reported to Eurex Derivatives which pursuant to Art. 37 para. 2 FMIO are not admitted to trading on SIX Swiss Exchange Exchange in the order book or in the order book order the Exchange in the order book or in the order book without pretrade Exchange off order book order the Exchange off order book without BO information each execution off Exchange order each trade executed off Exchange without BO information (as Full compliance with the reporting requirements Page 4

6 SIX Swiss Exchange Ltd Pfingstweidstrasse 110 Postfach 8021 Zürich T F SIX Swiss Exchange Ltd 2017