Financial Market Infrastructure Act (FinMIA)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only, has no legal force and may not be relied on in legal proceedings.
Art. 1 Subject matter and purpose
1 This Act governs the organisation and operation of financial market infrastructures, and the conduct of financial market participants in securities and derivatives trading. 2 It aims to ensure the proper functioning and transparency of securities and derivatives markets, the stability of the financial system, the protection of financial market participants and equal treatment of investors.
Art. 2 Definitions
For the purposes of this Act, the following terms shall have the following meanings: a. Financial market infrastructure: 1. a stock exchange (Art. 26 let. b); 2 a multilateral trading facility (Art. 26 let. c); 3. a central counterparty (Art. 48); 4. a central securities depository (Art. 61); 5. a trade repository (Art. 74); 5a. a trading facility for DLT securities (DLT trading facility; Art. 73a); 6. a payment system (Art. 81). b. Securities: standardised certificated and uncertificated securities, in particular uncertificated securities in accordance with Article 973c of the Code of Obligations (CO) and ledger-based securities in accordance with Article 973d of the CO, as well as derivatives and intermediated securities, which are suitable for mass trading. bbis. Distributed ledger technology securities (DLT securities): securities in the form of: 1. Ledger-based securities (Art. 973d CO); or 2. other uncertificated securities that are held in distributed electronic registers and us
let. a let. 5a — Inserted by No I 10 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 33, 399; BBl 2020 233). let. b — Amended by No I 10 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 33, 399; BBl 2020 233). let. b — SR 220 let. bbis — Inserted by No I 10 of the FA of 25 Sept. 2020 on the Adaptation of
Art. 3 Group parent companies and significant group companies
1 The following are subject to Articles 88 to 92 provided they are not subject to the bankruptcy jurisdiction of the Swiss Financial Market Supervisory Authority (FINMA) within the scope of the supervision of the individual institution: a. group parent companies of a financial group which have their registered office in Switzerland; b. those group companies which have their registered office in Switzerland and perform significant functions for activities which require authorisation (significant group companies). 2 The Federal Council shall set the criteria for assessing significance. 3 FINMA shall identify significant group companies and keep a publicly accessible list of said companies.