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

(Art. 82 Fin­MIA)

¹ The pay­ment sys­tem shall en­able the set­tle­ment of pay­ments by trans­fer­ring sight de­pos­its held with a cent­ral bank.

² If this is im­possible or im­prac­tic­al, it shall use a means of pay­ment which car­ries no or only low cred­it and li­quid­ity risks. It shall min­im­ise these risks and mon­it­or them on an on­go­ing basis.

³ Where ex­change-of-value set­tle­ment is con­cerned, the pay­ment sys­tem shall en­able par­ti­cipants to elim­in­ate their prin­cip­al risk by en­sur­ing that the set­tle­ment of one ob­lig­a­tion oc­curs if and only if the set­tle­ment of the oth­er ob­lig­a­tion is guar­an­teed.