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

¹ Any­one who op­er­ates an or­gan­ised trad­ing fa­cil­ity re­quires au­thor­isa­tion as a bank, se­cur­it­ies deal­er or DLT trad­ing fa­cil­ity, or au­thor­isa­tion or re­cog­ni­tion as a trad­ing ven­ue.³⁵

² No au­thor­isa­tion is re­quired for the op­er­a­tion of an or­gan­ised trad­ing fa­cil­ity with­in a fin­an­cial group if this is con­duc­ted via a leg­al en­tity that:

a.

is con­trolled dir­ectly by a fin­an­cial mar­ket in­fra­struc­ture; and

b.

is sub­ject to con­sol­id­ated FINMA su­per­vi­sion.