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

¹Any­one who op­er­ates an or­gan­ised trad­ing fa­cil­ity shall pub­lish in­form­a­tion on the trans­ac­tions car­ried out on the trad­ing fa­cil­ity, in par­tic­u­lar the price, volume and time of the trans­ac­tions.

²Tak­ing re­cog­nised in­ter­na­tion­al stand­ards and for­eign leg­al de­vel­op­ments in­to ac­count, the Fed­er­al Coun­cil shall reg­u­late ex­emp­tions to this pub­lic­a­tion duty, par­tic­u­larly in re­la­tion to se­cur­it­ies trans­ac­tions in­volving large volumes or that are ex­ecuted by the SNB.

³It may make pro­vi­sion, in line with re­cog­nised in­ter­na­tion­al stand­ards, for ex­tend­ing the pub­lic­a­tion duty to pre-trad­ing trans­par­ency.