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

¹A leg­al en­tity may op­er­ate only one fin­an­cial mar­ket in­fra­struc­ture. The fore­go­ing does not ap­ply to the op­er­a­tion of a mul­ti­lat­er­al trad­ing fa­cil­ity by a stock ex­change.

²The pro­vi­sion of an­cil­lary ser­vices sub­ject to au­thor­isa­tion or ap­prov­al by vir­tue of Art­icle 1 of the Fin­an­cial Mar­ket Su­per­vi­sion Act of 22 June 2007¹ (fin­an­cial mar­ket le­gis­la­tion) must be au­thor­ised or ap­proved by FINMA and must be in com­pli­ance with the ad­di­tion­al au­thor­isa­tion con­di­tions.

³If the pro­vi­sion of an­cil­lary ser­vices not sub­ject to au­thor­isa­tion or ap­prov­al by vir­tue of fin­an­cial mar­ket le­gis­la­tion in­creases the risks of a fin­an­cial mar­ket in­fra­struc­ture, FINMA may re­quire or­gan­isa­tion­al meas­ures or the es­tab­lish­ment of ad­di­tion­al own funds and suf­fi­cient li­quid­ity.