Citation, commencement, and extent

1. —(1) These Regulations may be cited as the European Market Infrastructure Regulation (United States of America Regulated Market Equivalence) Regulations 2022.

(2) These Regulations come into force on 20th April 2022.

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

Equivalence

2. —(1) The Treasury determine that, for the purposes of Article 2a (1) of of the European Parliament and Council of 4 July 2012 Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories, the third-country markets listed in paragraph (2) are—

(a) compliant with legally binding requirements which are equivalent to the requirements resulting from provisions of the law of the United Kingdom which was relied on before IP completion day to implement Title 3 of of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2014/65/EU and Directive 2002/92/EC ( Directive 2011/61/EU 2 ), as the requirements resulting from the provisions of the law of the United Kingdom apply on the day on which these Regulations are made; and

(b) subject to effective supervision and enforcement in the United States of America on an ongoing basis.

(2) The third-country markets are—

(a) Bitnomial Exchange, LLC;

(b) Cantor Futures Exchange, L.P.;

(c) Cboe Futures Exchange, LLC;

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

(e) Chicago Mercantile Exchange, Inc.;

(f) Commodity Exchange, Inc.;

(g) Eris Exchange, LLC;

(h) ICE Futures U.S., Inc.;

(i) KalshiEX LLC;

(j) LedgerX LLC;

(k) LMX Labs, LLC;

(l) Minneapolis Grain Exchange, Inc.;

(m) New York Mercantile Exchange, Inc.;

(n) Nodal Exchange, LLC;

(o) North American Derivatives Exchange, Inc.; and

(p) Small Exchange, Inc.

Revocation of Commission Implementing Decision (EU) 2016/1073

3. Commission Implementing of 1 July 2016 on the equivalence of designated contract markets in the United States of America in accordance with Decision (EU) 2016/1073 of the European Parliament and of the Council( Regulation (EU) No 648/2012 3 ) is revoked.