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

¹ The DLT trad­ing fa­cil­ity shall is­sue reg­u­la­tions on the ad­mis­sion of DLT se­cur­it­ies to trad­ing and to the oth­er ser­vices it provides. In par­tic­u­lar, it shall set out therein the re­quire­ments to be met by the DLT se­cur­it­ies and the is­suers or third parties in con­nec­tion with the ad­mis­sion. The duty to pub­lish a pro­spect­us is gov­erned ex­clus­ively by Art­icles 35–57 of the Fin­an­cial Ser­vices Act of 15 June 2018³⁹.

² A DLT trad­ing fa­cil­ity that, in ad­di­tion to DLT se­cur­it­ies, ad­mits oth­er as­sets to trad­ing or to its oth­er ser­vices shall is­sue reg­u­la­tions on the ad­mis­sion of such as­sets.

³ The Fed­er­al Coun­cil may:

a.

re­quire that DLT se­cur­it­ies be ad­mit­ted to DLT trad­ing fa­cil­it­ies only if they meet cer­tain min­im­um re­quire­ments, in par­tic­u­lar as re­gards their in­teg­rity and the avail­ab­il­ity of pub­lic in­form­a­tion;

b.

spe­cify which DLT se­cur­it­ies and oth­er as­sets must not be ad­mit­ted to DLT trad­ing fa­cil­it­ies in or­der to pro­tect fin­an­cial mar­ket par­ti­cipants or the sta­bil­ity or in­teg­rity of the fin­an­cial sys­tem.

⁴ The DLT trad­ing fa­cil­ity shall mon­it­or com­pli­ance with the reg­u­la­tions and im­pose the sanc­tions provided for con­trac­tu­ally in the event of vi­ol­a­tions.