(5)Swap trading platforms operating in the United States of America (USA) offer high trading volumes in dollar-denominated swaps and it is important that EU firms are able to access this liquidity for efficient risk management. Taking account of the importance of US swap trading platforms for the functioning of the EU market and their impact on financial stability, it is appropriate, given this context, to recognise swap trading platforms operating in the USA. This decision is based on a detailed assessment of the legal and supervisory framework governing swap trading platforms under the US Commodity Exchange Act (CEA) and implementing regulations with a particular focus on market integrity and transparency.