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


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Art. 73a Definitions

1 A DLT trad­ing fa­cil­ity is a com­mer­cially op­er­ated in­sti­tu­tion for mul­ti­lat­er­al trad­ing of DLT se­cur­it­ies whose pur­pose is the sim­ul­tan­eous ex­change of bids between sev­er­al par­ti­cipants and the con­clu­sion of con­tracts based on non-dis­cre­tion­ary rules and which meets at least one of the fol­low­ing cri­ter­ia:

a.
It ad­mits par­ti­cipants in ac­cord­ance with Art­icle 73c para­graph 2 let­ter e.
b.
It holds DLT se­cur­it­ies in cent­ral cus­tody based on uni­form rules and pro­ced­ures.
c.
It clears and settles trans­ac­tions in DLT se­cur­it­ies based on uni­form rules and pro­ced­ures.

2 The cri­terion of a com­mer­cial basis is deemed sat­is­fied by an in­de­pend­ent eco­nom­ic activ­ity pur­sued on a per­man­ent, for-profit basis.

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