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

¹ The trad­ing ven­ue shall es­tab­lish un­der FINMA su­per­vi­sion its own reg­u­lat­ory and su­per­vis­ory or­gan­isa­tion which is ap­pro­pri­ate for its activ­ity.

² The reg­u­lat­ory and su­per­vis­ory tasks del­eg­ated to the trad­ing ven­ue must be car­ried out by in­de­pend­ent bod­ies. The dir­ect­ors of these bod­ies must:

a.

provide the guar­an­tee of ir­re­proach­able busi­ness con­duct;

b.

en­joy a good repu­ta­tion; and

c.

have the spe­cial­ist qual­i­fic­a­tions re­quired for their func­tions.

³ The se­lec­tion of the dir­ect­ors un­der para­graph 2 re­quires the ap­prov­al of FINMA.

⁴ The trad­ing ven­ue shall sub­mit its reg­u­la­tions and their amend­ments to FINMA for ap­prov­al.