(8)The legally binding requirements applicable to NSEs authorised in the USA which are set out in the legal framework for the operation of NSEs therefore deliver results that are in substance equivalent to the requirements laid down in Title III of Directive 2014/65/EU in the following areas: authorisation process, definitional requirements, access to the recognised exchange, organisational requirements, admission of financial instruments to trading, suspension and removal of instruments from trading, monitoring of compliance and access to clearing and settlement arrangements.