EC Adopts Equivalence Decision for Derivatives Trading Venues in US

By Regulatory News

December 06, 2017

EC issued the Commission Implementing Decision (EU) 2017/2238 on the equivalence of legal and supervisory framework applicable to designated contract markets and swap execution facilities in the United States, in accordance with the Markets in Financial Instruments Regulation (MiFIR: Regulation (EU) No 600/2014). The decision shall enter into force on the day following that of its publication in the Official Journal of the European Union.

EC has recognized certain trading venues authorized by CFTC as eligible for compliance with the EU trading obligation for derivatives. This decision will ensure that EU counterparties can continue to trade the most liquid derivatives instruments on the U.S. platforms. CFTC is also working toward exempting certain EU-authorized trading venues from registration requirements in the U.S. This follows an agreement, which was announced on October 13, 2017, between EC and CFTC on a common approach regarding certain derivatives trading platforms. The agreement will enable EU platforms to offer trading services to U.S. counterparties.

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Effective Date: December 07, 2017

Keywords: Europe, Americas, US, Securities, Equivalence Decisions, Derivatives, MiFIR, MiFID II, CFTC, EC

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