Anyone who operates an organised trading facility requires authorisation as a bank, securities dealer or DLT trading facility, or authorisation or recognition as a trading venue.1
No authorisation is required for the operation of an organised trading facility within a financial group if this is conducted via a legal entity that:
is controlled directly by a financial market infrastructure; and
is subject to consolidated FINMA supervision.
Footnotes
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). ↩
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