Recital 3

(3)The definition of ‘recognised exchange’, laid down in Article 4(1), point (72), of Regulation (EU) No 575/2013, was most recently amended by Regulation (EU) 2019/2033 of the European Parliament and of the Council ³ . That amendment consisted of the addition, in point (a) of that point (72), of the words “or a third-country market that is considered to be equivalent to a regulated market in accordance with the procedure set out in point (a) of Article 25(4) of Directive 2014/65/EU of the European Parliament and of the Council”. Due to that amendment, ‘recognised exchanges’ are no longer restricted to ‘regulated markets’ only. That amendment should be reflected in Implementing Regulation (EU) 2016/1646 by including in that Regulation those exchanges for which the Commission has adopted an equivalence decision pursuant to Article 25(4), point (a), of Directive 2014/65/EU of the European Parliament and of the Council ⁴ .