Foreign financial market infrastructures

Two types of recognition may be relevant particularly to foreign trading venues. These recognition categories are essentially independent of each other and must each be applied for separately.

Recognition of foreign trading venues under Article 41 FinMIA

Foreign trading venues must be recognised under Article 41 FinMIA before granting Swiss participants supervised by FINMA direct access to their facilities. 

Recognition of foreign trading venues under Article 41a FinMIA

Based on Art. 41a FinMIA, a special recognition obligation applies to foreign trading venues if: 

• equity securities of companies with registered office in Switzerland are traded there or if they otherwise facilitate the trading of such equity securities (Art. 41a para. 1 let. a FinMIA); and 

• the equity securities are listed on a stock exchange in Switzerland or are traded on a trading venue in Switzerland (Art. 41a para. 1 let. b FinMIA).

Art. 41a para. 2 FinMIA includes certain exceptions to this recognition obligation.

Requirements for foreign financial market infrastructures

Foreign financial market infrastructures recognised in Switzerland must comply with information and reporting requirements vis-à-vis FINMA. FINMA receives further information on foreign financial market infrastructures from foreign supervisory authorities.