Commentaries: Art. 41a

Trading venues which have their registered office abroad require prior recognition from FINMA if:
1. equity securities of companies with registered office in Switzerland are traded there or if they otherwise facilitate the trading of such equity securities; and
2. the equity securities pursuant to letter a are listed on a stock exchange in Switzerland or are traded on a Swiss trading venue.
A foreign stock exchange does not require recognition for the trading of equity securities if:
1. they are listed or admitted to trading on the relevant stock exchange with the express consent of the issuer of the equity securities, which must have been given prior to 30 November 2018;
2. they were listed or admitted to trading on the relevant stock exchange before 30 November 2018; and
3. the issuer of the equity securities accepts responsibility for the duties associated with the listing or admission to trading on the relevant stock exchange.
The recognition ceases once that trading venue has its registered office in a jurisdiction listed in accordance with Article 41c paragraph 2.