As part of a relatively comprehensive review of the regulations applicable to the financial market infrastructure, the National Bank Ordinance (NBO) has been revised.
SIX welcomes the Federal Council Communication on the Financial Market Infrastructure Act, albeit with reservations
As an operator of financial market infrastructure, SIX supports the intention of the Federal Council to regulate financial market infrastructure and derivatives trading through a law.
SIX recognizes that the legislation proposed by the Federal Council at the beginning of September is pragmatic and feasible, and that it is largely based on international standards. SIX is surprised, however, that the regulatory approach for trading platforms and systems was inconsistent and so-called organized trading systems are not considered independent elements of financial market infrastructure.