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.
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.