Art. 29

(Art. 29 para. 3 lit. b FinMIA)

1. Securities transactions are not subject to the provisions on pre-trade and post-trade transparency if they are carried out as part of public tasks and not for investment purposes, namely on the part of:
   1. the Confederation, cantons or communes;
   2. the SNB;
   3. the Bank for International Settlements (BIS);
   4. multilateral development banks in accordance with Article 63 paragraph 2 letter c of the Capital Adequacy Ordinance of 1 June 2012¹(CAO).
2. Securities transactions carried out by the following parties may be excluded from the provisions on pre-trade and post-trade transparency as long as the transactions are carried out as part of public tasks and not for investment purposes, and as long as reciprocal rights are granted and an exception does not stand in contradiction to the legislative purpose:
   1. foreign central banks;
   2. the European Central Bank (ECB);
   3. official bodies or state departments that are responsible for or involved in administering the national debt;
   4. the European Financial Stability Facility (EFSF);
   5. the European Stability Mechanism (ESM).
3. The Federal Department of Finance (FDF) shall publish a list of the bodies covered by paragraph 2.
4. The trading venue is to be informed in cases where transactions are carried out as part of public tasks and not for investment purposes.