Ordinance
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Ordinance, FinMIO)

(Art. 73e para. 2 Fin­MIA)

1 Un­less oth­er­wise spe­cified in this Sec­tion, the re­quire­ments for cent­ral se­cur­it­ies de­pos­it­or­ies un­der Art­icles 62 to 73 of the Fin­MIA and 52 to 58 of this Or­din­ance ap­ply by ana­logy for DLT trad­ing fa­cil­it­ies that provide ser­vices in ac­cord­ance with Art­icle 73a para­graph 1 let­ter b or c of the Fin­MIA.

2 The se­greg­a­tion in ac­cord­ance with Art­icle 69 of the Fin­MIA may take place in the dis­trib­uted ledger un­der­ly­ing the DLT se­cur­it­ies or in the sys­tems of the DLT trad­ing fa­cil­ity.

3 A DLT trad­ing fa­cil­ity may also en­able the set­tle­ment of pay­ments in an­oth­er man­ner than that provided for in Art­icle 65 para­graph 1 of the Fin­MIA if it in­volves a FINMA-su­per­vised in­sti­tu­tion for the pur­pose.

4 For a DLT trad­ing fa­cil­ity, li­quid­ity in a cur­rency in ac­cord­ance with Art­icle 67 para­graph 1 of the Fin­MIA also in­cludes crypto­based as­sets, in­so­far as the pay­ment ob­lig­a­tion is to be ful­filled in the same vir­tu­al cur­rency.

5 In derog­a­tion from Art­icle 52, the DLT trad­ing fa­cil­ity does not have to set up a user com­mit­tee.