Financial Market Infrastructure Ordinance (FinMIO)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Art. 1 Subject matter
(Art. 1 and 157 FinMIA) This Ordinance governs specifically: a. the authorisation conditions and duties for financial market infrastructures; b. the duties of financial market participants in derivatives trading; c. the disclosure of shareholdings; d. public takeover offers; e. the exceptions that apply with regard to the ban on insider trading and market manipulation.
Art. 2 Definitions
(Art. 2 lit. b and c FinMIA) 1 Securities are deemed to be standardised and suitable for mass trading if they are publicly offered for sale in the same structure and denomination or are placed with more than 20 clients, insofar as they have not been created especially for individual counterparties. 2 Derivatives are deemed to comprise financial contracts whose price is derived specifically from: a. assets such as shares, bonds, commodities and precious metals; b. reference values such as currencies, interest rates and indices. 3 The following are not deemed to be derivatives: a. spot transactions; b. derivatives transactions relating to electricity and gas which: 1. are traded on an organised trading facility, 2. must be physically delivered, and 3. cannot be settled in cash at a party's discretion; c. derivatives transactions relating to climatic variables, freight rates, inflation rates or other official economic statistics that are settled in cash only in the event of a default or o
Para. 1 — Amended 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).
Art. 3 Significant group companies
(Art. 3 para. 2 FinMIA) The functions of a group company are significant with respect to the activities which require authorisation if they 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, trading and settlement, and legal and compliance.