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

(Art. 18 Fin­MIA)

¹ Fair ac­cess is deemed not to be guar­an­teed in par­tic­u­lar if ex­cess­ively high or ob­ject­ively un­jus­ti­fied re­quire­ments are made, or if ex­cess­ive prices are de­man­ded for use of the ser­vices offered. Fee struc­tures should not be con­du­cive to dis­orderly mar­ket con­di­tions.

² The fin­an­cial mar­ket in­fra­struc­ture may make ac­cess con­di­tion­al upon ful­fil­ment of op­er­a­tion­al, tech­nic­al, fin­an­cial and leg­al re­quire­ments.

³ If it re­stricts ac­cess for reas­ons of ef­fi­ciency, FINMA shall con­sult the Com­pet­i­tion Com­mis­sion as part of its as­sess­ment.