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Recital 15

Recital 15

(15)Considering that the AMF and BaFin demonstrated that the requesting financial counterparties within their jurisdictions fulfil the conditions laid down in Article 32a(1), point (a), of Regulation (EU) No 600/2014, and that the suspension of the derivative trading obligation would not have a distortive effect on the clearing obligation under Title II of Regulation (EU) No 648/2012, it is appropriate to suspend the derivative trading obligation for the purposes of that Article with respect to BNP Paribas SA, Société Générale SA, Crédit Agricole CIB, and Deutsche Bank AG. Given that the evidence presented by the AMF and BaFin shows that the conditions laid down in Article 32a(1), point (a), of Regulation (EU) No 600/2014 are fulfilled with respect to trading venues in the United Kingdom, it is appropriate to suspend the derivative trading obligation only with respect to the United Kingdom.

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