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

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.

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).