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

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Art. 55 Exchange-of-value settlement

(Art. 66 FMIA)

1The cent­ral se­cur­it­ies de­pos­it­ory must hold total cap­it­al in the amount 8.0% (min­im­um cap­it­al re­quire­ment) to un­der­pin cred­it risks, non-coun­ter­party-re­lated risks, mar­ket risks and op­er­a­tion­al risks in ac­cord­ance with Art­icle 42 CAO1. FINMA may de­mand ad­di­tion­al cap­it­al in ac­cord­ance with Art­icle 45 CAO. Titles 1 to 3 CAO ap­ply to the cal­cu­la­tion.2

2For all oth­er mat­ters, Art­icle 48 para­graphs 3 to 6 ap­ply by ana­logy.

1 SR 952.03
2 Amended by At­tach­ment No 2 to the Or­din­ance of 11 May 2016, in force since 1 Ju­ly 2016 (AS 2016 1725).

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