Federal Act
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Act, FinMIA)

¹ Sys­tem­ic­ally im­port­ant fin­an­cial mar­ket in­fra­struc­tures must ful­fil spe­cial re­quire­ments in or­der to pro­tect against the risks they pose to the sta­bil­ity of the fin­an­cial sys­tem.

² The spe­cial re­quire­ments must take ac­count of re­cog­nised in­ter­na­tion­al stand­ards. They can re­late to the con­trac­tu­al bases, the means of pay­ment used, risk man­age­ment, busi­ness con­tinu­ity and IT sys­tems.

³ The SNB shall reg­u­late the de­tails in an or­din­ance.

⁴ The SNB may, after con­sult­ing FINMA, waive the ob­lig­a­tion to meet the spe­cial re­quire­ments for a sys­tem­ic­ally im­port­ant fin­an­cial mar­ket in­fra­struc­ture re­gistered abroad which comes un­der SNB over­sight in ac­cord­ance with Art­icle 19 para­graph 2 of the Swiss Na­tion­al Bank Act of 3 Oc­to­ber 2003¹³ (NBA):

a.

if it is sub­ject to equi­val­ent su­per­vi­sion and over­sight abroad; and

b.

if the com­pet­ent su­per­vis­ory and over­sight au­thor­it­ies co­oper­ate with the SNB in ac­cord­ance with Art­icle 21 para­graph 2 of the NBA¹⁴.