Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading

(Art. 12 FMIA)

¹The min­im­um cap­it­al shall amount to:

a.

for trad­ing ven­ues: CHF 1 mil­lion, whereby in well-foun­ded cases FINMA may stip­u­late a min­im­um amount up to 50% high­er;

b.

for cent­ral coun­ter­parties: CHF 10 mil­lion;

c.

for cent­ral se­cur­it­ies de­pos­it­or­ies: CHF 5 mil­lion;

d.

for trade re­pos­it­or­ies: CHF 500,000;

e.

for pay­ment sys­tems: CHF 1.5 mil­lion.

²In the event of non-cash cap­it­al con­tri­bu­tions, the value of the as­sets brought in and the amount of the li­ab­il­it­ies shall be re­viewed by a li­censed audit firm. This also ap­plies when an ex­ist­ing com­pany is trans­formed in­to a fin­an­cial mar­ket in­fra­struc­ture.