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Details on the regulation of SwissAtMid are set out in the Directive 5: "Trading without pre-trade transparency"[pdf].

Authorisation of Trading

Rules for SwissAtMid are consistent with Lit orderbook trading, no additional authorizations are required.

Reporting Obligation

All trades on the Exchange, as described in Clause 10.1 para. 2 and 10.1 para. 3 in the Rule Book[pdf], are deemed to have been reported in the sense of FMIA.