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Switzerland Financial Market Infrastructure Act 2015 (FinfraG/FMIA) - SR 958.1

The Swiss Financial Market Infrastructure Act (Finanzmarktinfrastrukturgesetz, FinfraG; SR 958.1) regulates the operation of financial market…

What Switzerland Financial Market Infrastructure Act 2015 (FinfraG/FMIA) - SR 958.1 requires

The Swiss Financial Market Infrastructure Act (Finanzmarktinfrastrukturgesetz, FinfraG; SR 958.1) regulates the operation of financial market infrastructures and market conduct in securities and derivatives markets in Switzerland, with FINMA as the principal supervisory authority. Art. 2 defines the scope, covering stock exchanges, multilateral trading facilities, central counterparties, central securities depositories, trade repositories, and payment systems. Trading venues - including stock exchanges - must be authorised by FINMA under Art. 26 and meet ongoing requirements for market integrity, transparent and non-discriminatory access, and adequate risk management. The Act implements the G20 derivatives reform agenda in Switzerland: Art. 93 requires clearing of standardised OTC derivatives through a central counterparty; Art. 104 requires reporting of derivative transactions to a trade repository; and Art. 109 introduces risk mitigation obligations for uncleared derivatives. Art. 117 and Art. 142 address market manipulation and insider trading respectively, imposing criminal sanctions for serious market misconduct. Systemically important payment systems are subject to oversight by the Swiss National Bank (SNB) under Art. 16.

Pillar: Banking & Global Finance · Authority: Swiss Financial Market Supervisory Authority (FINMA); Swiss National Bank (SNB) · Version: 1.0.1 · Last updated:

Primary source: https://www.fedlex.admin.ch/eli/cc/2015/791/en

SHA-256 integrity: 3f4a2cd4d4b6fb9c1be2389b19d5b35f6e99849078c6b08190b085607ddf7807

Primary Citations — 8 traced to source

  • Financial Market Infrastructure Act (FinfraG) SR 958.1 (Switzerland), Art. 2 - Scope: trading venues, central counterparties, central securities depositories, trade repositories, and payment systems
  • Financial Market Infrastructure Act (FinfraG) SR 958.1 (Switzerland), Art. 26 - Authorisation requirement for trading venues; stock exchanges and multilateral trading facilities must be authorised by FINMA

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