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

¹The cent­ral se­cur­it­ies de­pos­it­ory must:

a.

sep­ar­ate its own as­sets from the se­cur­it­ies of its par­ti­cipants; and

b.

sep­ar­ate a giv­en par­ti­cipant's se­cur­it­ies from those of oth­er par­ti­cipants.

²It shall of­fer its par­ti­cipants the pos­sib­il­ity of:

a.

sep­ar­at­ing their own se­cur­it­ies from those of in­dir­ect par­ti­cipants;

b.

keep­ing and re­cord­ing the se­cur­it­ies of in­dir­ect par­ti­cipants to­geth­er (om­ni­bus cus­tom­er ac­counts) or sep­ar­ately (in­di­vidu­al cus­tom­er ac­counts).