Ordinance
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Art. 58j Other requirements relating to services in the area of central custody, clearing or settlement
(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. |