Recital 4

(4)In accordance with Article 28(4) of Regulation (EU) No 600/2014, third-country trading venues can be recognised as equivalent to trading venues established in the Union where they comply with legally binding requirements which are equivalent to the requirements for the trading venues resulting from Directive 2014/65/EU, Regulation (EU) No 596/2014 of the European Parliament and of the Council ⁴ and which aresubject to effective supervision and enforcement in that third country. This should be read in the light of the objectives pursued by that act, in particular its contribution to the establishment and functioning of the internal market, market integrity, investor protection and ultimately, but no less importantly, financial stability.