Directive on
Debt Securities with Specific Structures
(Directive Debt Securities Specific Structures, DDSS)

Table of contents

• I. General provision
• Art. 1: Object
• II. Special provisions
• A. Derivatives with open-end structures
• Art. 2: Definition
• Art. 3: Transparency in the listing prospectus
• B. Derivatives with path-dependent structures
• Art. 4: Definition
• Art. 5: Binding declaration
• Art. 6: Reporting obligations
• Art. 7: Path-dependent derivatives that expire worthless
• C. Derivatives with dynamic structures
• Art. 8: Definition
• Art. 9: Listability
• Art. 10: Listing prospectus
• D. Derivatives with dynamic structures and discretionary management (Actively Managed Certificates)
• Art. 11: Definition
• Art. 12: Conditions
• Art. 13: Listing prospectus
• E. Derivatives whose underlying securities are not authorised by FINMA for public sale in Switzerland
• Art. 14: Principle
• Art. 15: Obligations of issuers
• III. Final provisions
• Art. 16: Entry into force
• Art. 17: Transitional provision
• Art. 18: Revision