The Markets in Financial Instruments (Equivalence) (United States of America) (Commodity Futures Trading Commission) Regulations 2024

• Citation: S.I. 2024/638
• Sections: 49

Section 1 Citation, commencement, extent and interpretation

(1) These Regulations may be cited as the Markets in Financial Instruments (Equivalence) (United States of America) (Commodity Futures Trading Commission) Regulations 2024.

(2) These Regulations come into force on 4th June 2024.

(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.

(4) In these Regulations—

“ CFTC ” means the Commodity Futures Trading Commission of the United States of America.

“ MiFIR ” means Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 .

“ trading venue ” means—

designated contract markets which are boards of trade or exchanges that operate under the regulatory oversight of the CFTC; and

swap execution facilities, which are trading facilities that operate under the regulatory oversight of the CFTC .

Section 2 Equivalence

The Treasury specify that for the purpose of Article 28(4) of MiFIR the legal and supervisory framework of the United States of America ensures that the trading venues listed in the Schedule to this Regulation

(a) comply with legally binding requirements which are equivalent to the requirements for the trading venues referred to in points (a), (b) and (c) of Article 28(1) of Regulation (EU) No 600/2014 resulting from that Regulation, Directive 2014/65/EU and Regulation (EU) No 596/2014 ; and

(b) are subject to effective supervision and enforcement by the CFTC in the United States of America.

Section 3 Revocation of Commission Implementing Decision 2017/2238

Commission Implementing Decision 2017/2238 of 5 December 2017 on the equivalence of the legal and supervisory framework applicable to designated contract markets and swap execution facilities in the United States of America in accordance with Regulation (EU) No 600/2014 of the European Parliament and the Council is revoked.

Section 1

Bitnomial Exchange, LLC;

Section 2

Cantor Futures Exchanges, L.P.;

Section 3

CBOE Futures Exchange, LLC;

Section 4

Chicago Board of Trade (Board of Trade of the City of Chicago, Inc.);

Section 5

Chicago Mercantile Exchange, Inc.;

Section 6

Commodity Exchange, Inc.;

Section 7

Eris Exchange, LLC;

Section 8

ICE Futures U.S., Inc.;

Section 9

KalshiEX LLC;

Section 10

LedgerX LLC;

Section 11

LMX Labs LLC;

Section 12

Minneapolis Grain Exchange, Inc.;

Section 13

NASDAQ Futures, Inc.;

Section 14

New York Mercantile Exchange, Inc.;

Section 15

Nodal Exchange, LLC;

Section 16

North American Derivatives Exchange, Inc.;

Section 17

OneChicago LLC;

Section 18

Small Exchange, Inc.; and

Section 19

trueEX LLC.

Section 20

360 Trading Networks, Inc.;

Section 21

AEGIS SEF, LLC;

Section 22

Bats Hotspot SEF, LLC;

Section 23

BGC Derivatives Markets, L.P.;

Section 24

Bloomberg SEF LLC;

Section 26

Chicago Mercantile Exchange, Inc.;

Section 27

Clear Markets North America, Inc.;

Section 28

DW SEF LLC;

Section 29

FTSEF LLC;

Section 30

GFI Swaps Exchange LLC;

Section 31

GTX SEF LLC;

Section 32

ICAP SEF (US) LLC;

Section 33

ICE Swap Trade LLC;

Section 34

iSwap Euro B.V.;

Section 35

LatAm SEF, LLC;

Section 36

LedgerX LLC;

Section 37

MarketAxess SEF Corporation;

Section 38

Radial-X, LLC;

Section 39

RTX Fintech & Research LLC;

Section 40

Seed SEF LLC;

Section 41

SpectrAxe LLC;

Section 42

SwapEx LLC;

Section 43

Thomson Reuters (SEF) LLC;

Section 44

tpSEF Inc.;

Section 45

Tradition SEF, Inc.;

Section 46

trueEX LLC; and

Section 47

TW SEF LLC.