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

¹As a com­ple­ment to Art­icle 37 FIN­MASA¹, FINMA may with­draw au­thor­isa­tion or re­cog­ni­tion from a fin­an­cial mar­ket in­fra­struc­ture if it:

a.

does not use the au­thor­isa­tion with­in twelve months;

b.

has not provided ser­vices per­mit­ted solely with the au­thor­isa­tion dur­ing the pre­ced­ing six months;

c.

does not com­ply with the li­quid­a­tion plan.

²The with­draw­al of au­thor­isa­tion shall cause the dis­sol­u­tion of the leg­al en­tity. FINMA shall des­ig­nate the li­quid­at­or and over­see its activ­ity. The in­solv­ency law pro­vi­sions in ac­cord­ance with Chapter 8 re­main re­served.