Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading

¹The trad­ing ven­ue shall is­sue reg­u­la­tions on the ad­mis­sion, du­ties and ex­clu­sion of par­ti­cipants, thereby ob­serving in par­tic­u­lar the prin­ciple of equal treat­ment.

²The fol­low­ing may be ad­mit­ted as par­ti­cipants in a stock ex­change or a mul­ti­lat­er­al trad­ing fa­cil­ity:

a.

se­cur­it­ies deal­ers in ac­cord­ance with Art­icle 2 let­ter d of the Stock Mar­ket Act of 24 March 1995¹;

b.

oth­er parties su­per­vised by FINMA in ac­cord­ance with Art­icle 3 of the Fin­an­cial Mar­ket Su­per­vi­sion Act of 22 June 2007² (FIN­MASA), provided that the trad­ing ven­ue en­sures that they ful­fil equi­val­ent tech­nic­al and op­er­a­tion­al con­di­tions to se­cur­it­ies deal­ers;

c.

for­eign par­ti­cipants au­thor­ised by FINMA in ac­cord­ance with Art­icle 40;

d.

the SNB.