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

¹ The cent­ral se­cur­it­ies de­pos­it­ory must have suf­fi­cient li­quid­ity:

a.

to ful­fil its pay­ment ob­lig­a­tions in all cur­ren­cies un­der ex­treme but plaus­ible mar­ket con­di­tions, even in the event of the de­fault of the par­ti­cipant to which it has its greatest ex­pos­ure; and

b.

to be able to duly ex­ecute its ser­vices and activ­it­ies.

² It shall in­vest its fin­an­cial re­sources solely in cash or in li­quid fin­an­cial in­stru­ments with a low mar­ket and cred­it risk.