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

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.


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Art. 62 Principles for the custody, recording and transfer of securities

1The cent­ral se­cur­it­ies de­pos­it­ory shall en­sure the prop­er and law­ful cus­tody, re­cord­ing and trans­fer of se­cur­it­ies.

2It shall pro­hib­it its par­ti­cipants from over­draw­ing their se­cur­it­ies ac­counts for se­cur­it­ies held in cent­ral cus­tody with it.

3It shall check on a daily basis wheth­er the num­ber of an is­suer's se­cur­it­ies is­sued with it is equal to the num­ber of se­cur­it­ies re­cor­ded in the par­ti­cipants' se­cur­it­ies ac­counts.

4It shall spe­cify the time:

a.
after which a se­cur­it­ies trans­fer or­der is ir­re­voc­able and may no longer be changed;
b.
when a se­cur­it­ies trans­fer is settled.

5It shall trans­fer se­cur­it­ies in real time if pos­sible, but at the latest at the end of the value day.

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