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. 63 Settlement deadlines

1The cent­ral se­cur­it­ies de­pos­it­ory shall set the dead­lines for par­ti­cipants to settle their se­cur­it­ies trans­ac­tions in its sys­tem. In do­ing so, it shall take ac­count in par­tic­u­lar of in­ter­na­tion­al prac­tices and its par­ti­cipants' needs.

2It shall en­able its par­ti­cipants to settle trans­ac­tions with­in the dead­lines it sets.

3It shall mon­it­or wheth­er trans­ac­tions are settled with­in the al­loc­ated dead­lines. It shall im­pose the con­trac­tu­ally agreed sanc­tions in the event of late set­tle­ment.

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