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

(Art. 28 FMIA)

The trad­ing ven­ue shall es­tab­lish pro­ced­ures in or­der that the rel­ev­ant data on se­cur­it­ies trans­ac­tions can be con­firmed on the same day that trans­ac­tions are ex­ecuted.

a.

en­sure trans­par­ency and the equal treat­ment of in­vestors; and

b.

en­sure the prop­er func­tion­ing of the se­cur­it­ies mar­kets.

²FINMA may con­sult the Com­pet­i­tion Com­mis­sion be­fore mak­ing its de­cision. The lat­ter shall give its opin­ion on wheth­er the reg­u­la­tions are neut­ral in terms of com­pet­i­tion and are con­du­cive to anti-com­pet­it­ive ar­range­ments or not.

³Both is­suers and in­vestors must be ap­pro­pri­ately rep­res­en­ted in the body re­spons­ible for the ad­mis­sion of se­cur­it­ies to trad­ing.

⁴The trad­ing ven­ue shall set out in its reg­u­la­tions the tasks and powers of the vari­ous bod­ies, as well as the rep­res­ent­a­tion of is­suers and in­vestors in the body that is re­spons­ible for the ad­mis­sion of se­cur­it­ies to trad­ing.