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.
Foreign trading venues must be recognised under Article 41 FinMIA before granting Swiss participants supervised by FINMA direct access to their facilities.
Based on the Ordinance on the Recognition of Foreign Trading Venues for the Trading of Equity Securities of Companies with Registered Office in Switzerland (SR 958.2), a special recognition obligation currently applies to foreign trading venues if:
equity securities of companies with registered office in Switzerland are traded at such trading venues or if such trading venues facilitate the trading of such equity securities (SR 958.2, Art. 1 para. 1 let. a); and
the equity securities are listed at a stock exchange in Switzerland or are traded at a trading venue in Switzerland (SR 958.2, Art. 1 para. 1 let. b).
The Ordinance includes certain exceptions to this recognition obligation.
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.