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

¹ The trad­ing ven­ue shall is­sue reg­u­la­tions on the ad­mis­sion, du­ties and ex­clu­sion of par­ti­cipants, thereby ob­serving in par­tic­u­lar the prin­ciple of equal treat­ment.

² The fol­low­ing may be ad­mit­ted as par­ti­cipants in a trad­ing ven­ue:¹⁶

a.¹⁷

se­cur­it­ies firms in ac­cord­ance with Art­icle 2 let­ter d of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018¹⁸ (Fin­IA);

b.

oth­er parties su­per­vised by FINMA in ac­cord­ance with Art­icle 3 of the Fin­an­cial Mar­ket Su­per­vi­sion Act of 22 June 2007¹⁹ (FIN­MASA), provided that the trad­ing ven­ue en­sures that they ful­fil equi­val­ent tech­nic­al and op­er­a­tion­al con­di­tions to se­cur­it­ies firms;²⁰

c.

for­eign par­ti­cipants au­thor­ised by FINMA in ac­cord­ance with Art­icle 40;

d.

the SNB;

e.²¹

the fed­er­al gov­ern­ment;

f.²²

the Swiss Na­tion­al Ac­ci­dent In­sur­ance Fund (Suva);

g.²³

the AHV/IV/EO com­pens­a­tion funds (com­penswiss).

³ The trad­ing ven­ue may ad­mit oth­er en­tit­ies as par­ti­cipants if it en­sures that they ful­fil equi­val­ent tech­nic­al and op­er­a­tion­al con­di­tions to se­cur­it­ies firms, and if these en­tit­ies:

a.

per­form pub­lic func­tions and are re­li­ant on par­ti­cip­a­tion for the per­form­ance of these func­tions; and

b.

have pro­fes­sion­al treas­ury op­er­a­tions.²⁴