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In force since 2024-06-04, as the publisher states.
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Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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5 provisions
Title and introductory text
2024 No. 638
FINANCIAL SERVICES
The Markets in Financial Instruments (Equivalence) (United States of America) (Commodity Futures Trading Commission) Regulations 2024
Made
13th May 2024
Laid before Parliament
14th May 2024
Coming into force
4th June 2024
The Treasury make these Regulations in exercise of the powers conferred by Article 28(4) of Regulation (EU) 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.
Propose a change1 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.
Propose a change2 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.
Propose a change3 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.
Propose a changeSchedule Trading venues
Regulation 2
Part 1 Designated contracts market
1 Bitnomial Exchange, LLC;
2 Cantor Futures Exchanges, L.P.;
3 CBOE Futures Exchange, LLC;
4 Chicago Board of Trade (Board of Trade of the City of Chicago, Inc.);
5 Chicago Mercantile Exchange, Inc.;
6 Commodity Exchange, Inc.;
7 Eris Exchange, LLC;
8 ICE Futures U.S., Inc.;
9 KalshiEX LLC;
10 LedgerX LLC;
11 LMX Labs LLC;
12 Minneapolis Grain Exchange, Inc.;
13 NASDAQ Futures, Inc.;
14 New York Mercantile Exchange, Inc.;
15 Nodal Exchange, LLC;
16 North American Derivatives Exchange, Inc.;
17 OneChicago LLC;
18 Small Exchange, Inc.; and
19 trueEX LLC.
Part 2 Swap execution facilities
20 360 Trading Networks, Inc.;
21 AEGIS SEF, LLC;
22 Bats Hotspot SEF, LLC;
23 BGC Derivatives Markets, L.P.;
24 Bloomberg SEF LLC;
26 Chicago Mercantile Exchange, Inc.;
27 Clear Markets North America, Inc.;
28 DW SEF LLC;
29 FTSEF LLC;
30 GFI Swaps Exchange LLC;
31 GTX SEF LLC;
32 ICAP SEF (US) LLC;
33 ICE Swap Trade LLC;
34 iSwap Euro B.V.;
35 LatAm SEF, LLC;
36 LedgerX LLC;
37 MarketAxess SEF Corporation;
38 Radial-X, LLC;
39 RTX Fintech & Research LLC;
40 Seed SEF LLC;
41 SpectrAxe LLC;
42 SwapEx LLC;
43 Thomson Reuters (SEF) LLC;
44 tpSEF Inc.;
45 Tradition SEF, Inc.;
46 trueEX LLC; and
47 TW SEF LLC.
Propose a change