Art. 58l

(Art. 73f FinMIA)

1. In derogation from the FinMIA and from this Ordinance, the following eased requirements apply for small DLT trading facilities:
   1. In derogation from Article 8 paragraph 2 second sentence of the FinMIA and Article 8 paragraph 2 second sentence of this Ordinance, it is sufficient if the majority of the members of the bodies responsible for overall management, supervision and control are not members of the body responsible for business management.
   2. If the provision of ancillary services not subject to authorisation or approval by virtue of financial market legislation increases the risks of a DLT trading facility, FINMA may require exclusively organisational measures (Art. 10 para. 3 of the FinMIA). If the DLT trading facility also operates an organised trading facility (Art. 43 of the FinMIA), FINMA may require additional capital and sufficient liquidity.
   3. The business continuity requirements may also be met by having another authorisation holder take over the operation of the DLT trading facility in the event of disruptions (Art. 13 para. 1 of the FinMIA). The strategy and business impact analysis in accordance with Article 14 of this Ordinance may make provision for the operation of the DLT trading facility to be transferred to a third party.
   4. The regulatory tasks delegated to the DLT trading facility may also be carried out by a non-independent body (Art. 27 para. 2 of the FinMIA).
   5. An independent appeal body is not necessary (Art. 37 of the FinMIA).
   6. An internal audit is not necessary (Art. 8 para. 1 lit. c of this Ordinance).
2. For small DLT trading facilities that provide services in accordance with Article 73a paragraph 1 letter b or c of the FinMIA, the following eased requirements apply in addition, in derogation from the FinMIA:
   1. The capital requirements do not apply (Art. 66 of the FinMIA).
   2. The liquidity requirements do not apply (Art. 67 of the FinMIA).