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Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Ordinance, FinMIO)
Art.68Fulfilment of payment obligations
(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.