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

(Art. 86 FMIA)

¹Sys­tem­ic­ally im­port­ant fin­an­cial mar­ket in­fra­struc­tures shall draw up a plan as to how their sys­tem­ic­ally im­port­ant busi­ness pro­cesses are to be ter­min­ated in an or­derly way in the event of a vol­un­tary ces­sa­tion of busi­ness. The or­derly wind-down plan shall take in­to ac­count the peri­od of time re­quired for the par­ti­cipants to sign up to an al­tern­at­ive fin­an­cial mar­ket in­fra­struc­ture. It must be ap­proved by the body re­spons­ible for gov­ernance, su­per­vi­sion and con­trol.

²Para­graph 1 also ap­plies if the ces­sa­tion of a sys­tem­ic­ally im­port­ant busi­ness pro­cess does not lead to the re­turn of the au­thor­isa­tion.