Commentaries: Art. 37

The trading venue shall appoint an independent appeal body to which application may be made:
1. when a participant is refused admission;
2. when a security is refused admission;
3. when a participant is excluded;
4. when a security is delisted.
It shall govern the organisation of the appeal body and its procedures.
The organisation, the procedural rules and the appointment of the members of the appeal body require the approval of FINMA.
An action may be brought before the civil court after the appeal procedure has been conducted.