Artikel, Notizen und Markierungen werden geladen... Bitte um etwas Geduld.
Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FinMIO)
Art. 12Essential services
(Art. 11 para. 1 FinMIA)
1 Essential services are deemed to be services that are necessary for the continuation of important business processes, in particular in the areas of liquidity management, treasury, risk management, master data administration and accounting, personnel, information technology, and legal and compliance.
2 The following services are also deemed to be essential:
a.
in the case of trading venues:
1.
all activities conducted with the aim of ensuring fair, efficient and orderly trading,
2.
the operating of matching and market data distribution systems;
b.
in the case of central counterparties:
1.
contractually entering into securities transactions or other contracts involving financial instruments between two participants or between one participant and another central counterparty,
2.
the establishment of mechanisms relating to the planning for and protection against outages of participants or interoperably associated central counterparties, or relating to the segregation of the positions of indirect participants and clients of participants or to the transfer of positions to other participants;
c.
in the case of central securities depositories:
1.
the operation of a central custodian or securities settlement system,
2.
the initial recording of securities in a securities account,
3.
the reconciliation of holdings;
d.
in the case of trade repositories:
1.
the collection, management and retention of the reported data,
2.
the publication of reported data,
3.
the granting of access to reported data;
e.
in the case of payment systems:
1.
the acceptance and execution of participants' payment orders,
in the case of trading facilities for distributed ledger technology securities (DLT trading facilities) that do not provide services in accordance with Article 73a paragraph 1 letter b or c of the FinMIA:
1.
all activities conducted with the aim of ensuring fair, efficient and orderly trading,
2.
the operating of matching and market data distribution systems;
in the case of DLT trading facilities that provide services in accordance with Article 73a paragraph 1 letter b or c of the FinMIA:
1.
the services under letter f,
2.
the central custody of DLT securities or the clearing and settlement of transactions in DLT securities,
3.
the initial recording of DLT securities in a securities account,
4.
the reconciliation of holdings.
3 Inserted by No I 10 of the O of 18 June 2021 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 400).
4 Inserted by No I 10 of the O of 18 June 2021 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 400).