Commentaries: Art. 27

The operator shall have a concept for the integrated identification, measurement, management and monitoring of key risks, especially legal, credit, liquidity, business and operational risks.¹
In defining the procedures and tools to manage credit and liquidity risks, the operator shall take into account their impact on the participants and the financial system. In particular, it shall aim to prevent procyclical effects.
The operator shall provide tools and incentives for the participants to continuously manage and contain the risks arising for themselves or for the financial market infrastructure.

Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩

Art. 27