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Article NO. Content

Title:

Rules Governing the Proprietary Trading of Foreign Bonds by Securities Firms  CH

Amended Date: 2018.11.12 
Article 10     For any position held by a securities firm when conducting proprietary trading of foreign bonds or engaging in derivative-based hedging, any deterioration in the credit rating associated with such a position, which includes the country's sovereign rating, the long-term debt rating, and, in a hedging transaction, the counterparty's credit rating, below the minimum standard set by the competent authority will suspend further purchase, sale, or trading activities by the securities firm except for the sale or closing out of positions that are held by the securities firm.