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


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Art. 48 Definition

A cent­ral coun­ter­party is an en­tity based on uni­form rules and pro­ced­ures that in­ter­poses it­self between the coun­ter­parties to a se­cur­it­ies trans­ac­tion or oth­er con­tract in­volving fin­an­cial in­stru­ments, thereby be­com­ing the buy­er to every seller and the seller to every buy­er.

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